Executive Management

Following is a brief introduction of the Elders Rural Bank executive management members.

Paul Hutchinson Chief Executive Officer

Mr Hutchinson joined Elders Rural Bank as Chief Executive in October 2006. Before joining Elders Rural Bank he was Chief Operating Officer, Customer Solutions with New Zealand Post Ltd responsible for the sales and distribution capabilities of the group. Mr Hutchinson brings strong and diverse management and financial services credentials acquired through nearly 20 years experience in the Australian and New Zealand banking industry, including senior appointments with Westpac Banking Corporation, National Australia Bank and Bank of New Zealand. Mr Hutchinson is a member of the Elders Rural Bank board in addition to being a member of the Bank’s Risk, Audit and Credit Committees. Mr Hutchinson has attended the New Zealand Bankers Institute (in association with Victoria University, Wellington) Bankers Course and is a graduate of Harvard Business School Executive Management programme.

Steven Laidlaw Chief Financial Officer

Mr Laidlaw joined Elders Rural Bank as Chief Financial Officer and Company Secretary in May 2006. Before joining Elders Rural Bank he was the General Manager Finance at Skycity Entertainment Group. Previous positions also include being the General Manager Finance at a major diversified, agriculturally focused corporation and he was also in a senior finance role at Elders Limited in the mid-90s. Mr Laidlaw's experience includes working in the areas of grain trading, rural finance, strategic due diligence, capital allocation, investment valuation, cash flow management and statutory reporting. He has degrees in economics and commerce and is a member of the Institute of Chartered Accountants in Australia.

John Ellwood General Manager Credit and Lending

Mr Ellwood joined Elders Rural Bank as General Manager Credit and Lending in October 2006. Before joining Elders Rural Bank he was employed by Rabobank for 10 years, in a number of senior Credit positions, including a long-term secondment to a major Rural Services provider. Mr Ellwood also worked with the National Australia Bank for 22 years and filled a number of management roles for that company, in both rural and regional locations. He is a Fellow of the Financial Services Institute of Australasia.

Peter Corolis General Manager, Operations

Peter Corolis joined Elders Rural Bank as General Manager Risk in August 2005. He has significant experience in regulation, compliance and risk management. In his most recent role he was the State Manager for the South Australian Office of the Australian Prudential Regulation Authority. Peter has a Bachelor of Commerce Degree and a Graduate Diploma in Applied Finance and Investments. He is an Associate member of the Securities Institute of Australia.

Taso Corolis General Manager Risk Management

Taso joined Elders Rural Bank in May 2008. Taso has extensive experience in the financial services industry having spent ten years with the Australian Prudential Regulation Authority (APRA) in various senior roles, where he gained significant experience in risk management, strategy, governance and compliance. Taso also worked in APRA's Basel II team with responsibility for policy development, industry liaison and quantitative analysis. In 2004, Taso was engaged as a technical expert by the International Monetary Fund (IMF) to provide assistance on an economic mission in Mexico City.

Taso holds a Bachelor of Commerce, a Bachelor of Economics and a Graduate Diploma in Investments and Finance. He is also a member of FINSIA.

John Francis General Manager Channel Management and Distribution

Mr Francis joined Elders Rural Bank as General Manager - Business Banking in July 2007. Subsequently his role has been expanded to include managing communication and distribution practices between the Bank and the Elders Group. Mr Francis has nearly 20 years experience in the banking industry. He has held a number of senior management roles in commercial and business banking as well as senior roles in the finance industry. He has extensive knowledge of property finance as well as a sound understanding of general commercial and trade finance and has gained qualifications in supervision and management.


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