Former Heartland Bank chair and philanthropist Geoff Ricketts dies after short illness

Geoff Ricketts (right) last year founded the charitable trust which raised $8m to save Northland's Elliot Bay from developers, pictured with Robert Willoughby at the iconic surf beach. Photo / Peter de Graaf

Geoff Ricketts, veteran company chairman and Heartland Bank co-founder was “a passionate New Zealander not afraid to roll up his sleeves and get involved” in everything that might help better the country’s future from education and the arts, to conservation and business.

That’s how close friend and business partner of 40 years Sir Chris Mace remembers Ricketts, a former chairman of Lion Nathan and the Todd Corporation, who died on Friday aged 77 after a short illness.

Ricketts, a commercial lawyer, and Mace were co-founding directors of Heartland Bank, which evolved into a transtasman banking and financial services group, listed on both the NZX and ASX.

Ricketts, chair of the Southern Cross Building Society when it merged to become Heartland NZ in 2011, chaired Heartland from 2013 until February this year, when he stepped down for health reasons.

Mace, who first met Ricketts as a client of his law practice, was a director of Heartland until 2021.

“Geoff was recognised as one of New Zealand’s most capable commercial lawyers and most competent company chairmen. He was also a huge contributor to many other areas of New Zealand life, a passionate New Zealander who mentored many people and was passionate about the importance of education,” said Mace who shared an Auckland office with Ricketts for the past 20 years.

Geoff Ricketts.

Ricketts, a philanthropist and Companion of the New Zealand Order of Merit for services to education, the arts and business, was a distinguished fellow of the Institute of Directors. A graduate of Auckland university’s law school, he was establishment chair of the university’s foundation, and with wife Fran, founding patron of the Arts Foundation.

The couple founded the Ipipiri Nature Conservancy Trust, a charitable trust established last year to raise $8 million to save Elliot Bay, an iconic Northland surf beach and native forest, from development. Ricketts chaired the trust, which bought the property from the Elliot family, to preserve the historical and Maori heritage of the area, protect its endangered birdlife and centuries-old native forest. The trust plans to develop a walking track to connect with other tracks in the Bay of Islands. Mace will now chair the trust.

New Zealand Shareholders’ Association chief executive Oliver Mander said Ricketts was well-regarded by investors.

“He was always keen to reach out to us. He recognised the importance of investors and shareholders and was keen to gain our perspective, which he tended to do proactively and which we always appreciated.”

The Todd Corporation in a statement said: “Geoff was appointed to the Todd Corporation Board in 1989, and elected chair following the retirement of Sir John Todd in 2011. He stood down in May 2020 after a 31-year tenure.

“Given his long and distinguished career in corporate law and governance, Geoff’s contribution and commitment to the Todd Board was valued by family shareholders and fellow directors. On behalf of the board, executive and those who knew and worked with Geoff during his time as chair, we express our heartfelt condolences to Fran, his children, family and friends.”