Kernel gets big tech onboard

Fund manager and KiwiSaver provider Kernel, which recently cracked the $1 billion funds under management has a new board member.

Paul Hocking stepping down to make way for a new independent director, Alastair Grigg.

Grigg has a background in tech businesses formerly holding the role of chief operating officer at Xero and chief information officer at Air New Zealand.

Founder and chief executive Dean Anderson says this appointment "bolsters the board with tech leadership to support our wider team in our next phase of growth."

Kernel sees itself as being different to other fund managers as it adds tools and technology for Kiwis to grow their wealth.

"We do not see ourselves playing in the same space as Milford, Simplicity or Smartshares in the medium to long term," Anderson says.