A wealth management
business, focussed
on investments

Pyne Gould Corporation (PGC) is a Guernsey-domiciled,
TISE-listed company.  

  • Entities within the Group variously offer financial and asset management services, engage in real estate development and construction and invest in financial and real estate assets. 

    • Where We Started

      Originating as a stock and station business in New Zealand in the 1850s and later a comprehensive provider of wealth management, trustee and financial services, PGC and its subsidiaries are, today, a wealth management business focussed predominantly on investments in Australia, New Zealand and the United Kingdom. 

    • Significant Change

      Facing significant challenges in 2009 and following the successful completion of a major capital raising, PGC split into two businesses, creating the Heartland Bank as a separate business, and retaining the residual distressed assets inside PGC. Heartland, an in-specie distributed to shareholders, has grown into a successful business; PGC continues its focus on building a long-term sustainable business from distressed assets. 

    • The Torchlight Business

      PGC subsidiary, Torchlight Group manages and co-invests in proprietary funds focussed on non-traditional investment opportunities; its largest investment is in RCL Real Estate Holdings (RCL), a residential land developer and home builder with a series of residential land development projects in Australia (VIC, NSW and QLD) and New Zealand (Queenstown).

      In the United Kingdom, the company’s residential real estate investment is a majority shareholding in listed KCR Residential REIT Plc which operates in the private rented residential market in London and surrounds. KCR also owns and operates a portfolio of retirement living accommodation. 

  • Parallax Mountains
  • Board of Directors

    • George Kerr

      Managing Director

      George Kerr is a private equity investor with a successful record in Australasia and the United Kingdom spanning more than 30 years.

      He is chairman of Australian Equity Partners, the cornerstone shareholder in the Company. George was appointed to the Board in August 2008 and has been the Group's Managing Director since April 2012.

      He is also chairman of PGC's Torchlight Group.

    • Russell Naylor


      Russell Naylor has an extensive background in banking and finance and is the principal of Naylor Partners, a boutique Sydney-based corporate advisory business.

      An Australian resident, Russell is an Executive Director and Investment Committee Member of Torchlight.

    • Noel Kirkwood


      Noel Kirkwood was appointed to the Board in August 2014.

      A New Zealand resident with 30 years experience in banking and finance, he has held senior credit and lending roles covering rural, business and property transactions and has extensive experience in the work out of distressed property assets.

      He holds B.Agr.Com (Economics) from Lincoln University.

    • Michelle Smith

      Independent Director

      A highly qualified and experienced businesswoman, Michelle Smith brings a depth of experience gained in banking and financial services, investment fund management, insurance and commodities as well as in the area of governance.

      She has held a number of directorships, is a qualified accountant and is a member of PGC's Audit Committee.

      Michelle holds a M. Com (Hons), B. Com from the University of Canterbury, Christchurch and is a member of the Institute of Directors in both New Zealand and the UK.

    • Paul Dudley

      Independent Director

      Paul Dudley was appointed to the Board in May 2016.

      A Fellow of the Institute of Chartered Accountants of England and Wales, Paul is a Member of the UK's Chartered Institute of Securities and Investment. Paul is Managing Partner of Aer Ventures, a corporate advisory business he co-founded in 2011 that is Authorised and Regulated by the UK's Financial Conduct Authority.  

      Paul graduated from Durham University and began his career at PricewaterhouseCoopers.