Ex-New Zealand Prime Minister Bill English Takes Helm of Airwallex’s NZ Board

Global financial technology firm Airwallex has appointed
former New Zealand Prime Minister and Finance Minister Sir Bill English as
Chair of its New Zealand board.

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Expanding Role in New Zealand

Since entering the New Zealand market in 2023, Airwallex has rapidly grown. The fintech now reportedly supports more than 1,000 local firms
and handles about NZ$2.4 billion in annual payment flows, representing 240%
year-on-year growth.

According to the announcement, almost 20% of the country’s
digital and tech companies use the platform for cross-border transactions.

Airwallex’s Head of ANZ, James Teodorini welcomed English’s
appointment as a reflection of the company’s continued investment in New
Zealand. He added that its focus on building trusted financial infrastructure helps
local businesses grow at home and compete globally.

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“Sir Bill brings an exceptional understanding of New
Zealand’s economy and public institutions, alongside deep experience in
leadership, risk and long-term decision-making,” Teodorini mentioned.

“Sir Bill’s experience will help us keep scaling effectively
as demand continues to grow, stay close to what New Zealand businesses need,
and continue investing in products and partnerships that make it easier to
operate across borders.”

English joins as an independent director, bringing
experience in economic policy and international trade. He said Airwallex plays
an important role in helping New Zealand exporters and technology firms operate
globally.

Growth, Licenses and Tougher Oversight

Since the start of last year, Airwallex has combined strong
growth, new licenses and fresh funding with closer regulatory scrutiny. Last year, it reported annualized transaction volume climbed to about $200 billion, up 92%
year-on-year, while annualized revenue reached roughly $900 million, an 89%
increase.

During the same period, the company secured a MiFID investment firm license from the Dutch Authority for the Financial Markets.

But it has not been without challenges. In January, AUSTRAC
ordered Airwallex to appoint an external auditor to review its anti-money
laundering and counter-terrorism financing compliance after concerns that its
monitoring controls had not kept pace with its growth and risk profile.

This article was written by Jared Kirui at www.financemagnates.com.



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