2 Apr 2013

Gareth Morgan no longer working for company he founded

10:20 pm on 2 April 2013

Businessman and economist Gareth Morgan has ended his employment with Gareth Morgan Investments under the terms of the purchase agreement with Kiwibank.

Mr Morgan and Andrew Gawith are former principals of the business but remain as directors.

Dr Morgan is looking to step down from this role as well but stay as chair of the Investment Governance Committee.

Since the business was sold last year the company's funds have grown from $1.5 billion to $1.9 billion and it has more than 63,000 KiwiSaver members.