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The NZX Board and management today recognised the sudden passing of Board member Nigel Babbage in Christchurch yesterday.
NZX Chair James Miller said Mr Babbage, an NZX Board member since 2017, had been a long-term advocate of NZX and stock markets. He had also served on the Foreign Exchange Committee of the Federal Reserve Bank of New York.
“Nigel was a proud champion of NZX as a board member and significant shareholder. He was a man of immense passion and integrity something he demonstrated throughout his 35-year career as a currency trader, businessman, conservationist and director,” Mr Miller said.
“Never was there a greater supporter of NZX as a market operator and as a business than Nigel. We will miss him greatly – especially his self-deprecating sense of humour and big personality. Our thoughts go out to Nigel’s family, including sons, Charles and Edward, and siblings Nicki, Kate and Andrew.”
In October, Mr Babbage announced he was retiring from the NZX Board. The 22 November NZX Board meeting was to be his last.
NZX Chief Executive Mark Peterson said Mr Babbage’s deep financial and capital markets experience, and insights had been of great benefit to NZX in delivering to its growth strategy, particularly around derivatives.
“Nigel always backed us in looking for opportunities to grow New Zealand’s capital markets and we really appreciated that,” Mr Peterson said. “He was passionate about us succeeding.”
Mr Miller said NZX would acknowledge Mr Babbage at the official opening of The New Zealand Capital Markets Centre in Auckland on Thursday.
