Gareth Morgan (economist)
Encyclopedia
Gareth Huw Morgan is a New Zealand
businessman, economist, investment manager, motor cycle adventurer, public commentator and philanthropist
. He is father of Sam Morgan
(founder of TradeMe
) and was an early TradeMe investor and director. When TradeMe sold to Fairfax Media
, Gareth and his wife Joanne received NZ$50 million, which they donated to their charitable foundation, the Morgan Foundation which administers the Morgan’s philanthropic work. Gareth and Jo Morgan are UNICEF Ambassadors.
, New Zealand to Roderic and Mary Morgan, the second of five children and the first to be born in New Zealand. He married Joanne Baird from Invercargill
in 1975. They have four children: Samuel, Jessi, Floyd and Ruby. They also have four grandchildren.
for four years gaining a BA (Hons) in Economics
. In 1982 he graduated from Victoria University
with a PhD in economics.
in the early 1980s, before founding economics forecasting company Infometrics Limited in 1983. That company became one of New Zealand’s largest independent economics consultancy and forecasting businesses and for 18 years while under Morgan’s leadership (until the end of the 1990s) maintained a regular national circuit of business and public speaking engagements focussed on raising the economics literacy of businesspeople and householders.
In 1984 he and business partner Andrew Gawith launched a twice weekly horse racing form guide, Bettor Informed, based on econometric modelling
of all 7,500 gallopers on the New Zealand scene. The publication sought to identify the fair dividend for each horse and to instruct its readers when the odds being paid at the tote were a good return compared to the horse’s actual chances of winning in that field. The publication was sold to Independent Newspapers, owners of competitors Best Bets and Turf Digest.
In 2000, Gareth established Gareth Morgan Investments Limited (GMI), a personal investment portfolio management service, which has grown to be one of the largest private businesses of its type in New Zealand. When the New Zealand Government initiated KiwiSaver
in 2007, Gareth Morgan KiwiSaver Limited (GMK) launched the Gareth Morgan KiwiSaver Scheme.
Morgan is well known for taking New Zealand’s financial services industry to task for questionable ethics and abuse of investors. Over two decades he’s been persistent in exposing and criticising the sector, challenging the financial sector to produce safer and more ethical products. Morgan and his wife Joanne were early investors in TradeMe, founded by his son Sam Morgan. They were paid NZ$50m for their shares when Fairfax Media bought Trade Me in 2006. When asked what they would do with so much money, Gareth famously retorted “Let’s just give it away.” They founded the Morgan Foundation, which administers their philanthropic work around the world.
Morgan was a member of the Government appointed Capital Markets Task Force (2008–2009) and the Tax Working Group (2009). He is the chair of the Motor Cycle Safety Levy Advisory Council, Patron of Wing 256 NZ Police Cadets, and was North & South’s New Zealander of the Year in 2007.
In 2011, concerned that Wellington
was about to lose its most iconic sports franchise, Gareth and six other passionate Wellingtonians joined together to rescue the Wellington Phoenix, the only professional football
team in New Zealand. The new owners have promised to run the club at a profit and to reinvest every dollar back into the club and the development of the game in Wellington and beyond.
2009 – Poles Apart – a book surveying the state of the science around the phenomenon of anthropogenic climate change. This book won a Royal Society prize for excellence. It enlisted the assistance of international eminent scientists on both sides of the debate in a project to determine the weight of evidence around the hypothesis that human-induced climate change is present.
2010 – Health Cheque – a book assessing the state of our public health system
, international benchmarking of its excellence and formulating suggestions for improvement. The technique involved a combination of literature research and extensive interviewing of health professionals (clinical and management) working throughout New Zealand’s public health system.
2011 – The Big Kahuna – this book investigated the contribution that unpaid work makes to New Zealand society, and the consequences of measures of economic production not explicitly recognising such contributions – from community service, to care of the young and elderly. It recommended a series of policy responses to correct the omission.
2011 – Hook, Line and Blinkers – a book assessing the state of the world fish stocks and then appraising the state of fisheries management in New Zealand. The purpose is to identify where the management regime can be improved to ensure that our grandchildren’s grandchildren can continue to enjoy the bounty of the sea in a sustainable fashion.
UNICEF Support - Gareth and Jo Morgan are UNICEF NZ Ambassadors
KiwiSaver – the Gareth Morgan KiwiSaver Scheme
Our Far South - attempting to raise New Zealanders' awareness of Antarctica & the sub-Antarctic Islands
Tax and Welfare reform, The Big Kahuna – an economic and policy investigation of tax and welfare in New Zealand
Health Cheque – an economic and policy investigation of New Zealand’s Health System
Climate Change, Poles Apart – a climate change investigation
• A water project in Tanzania
where the Morgans matched a NZ public appeal dollar for dollar for funding to install boreholes, wells and water tanks in 29 villages, and provide basic hygiene education, directly benefiting over 65,000 people.
• Repairs to 44 tsunami-damaged schools in the Solomon Islands
where the Morgans matched a NZ public appeal dollar for dollar. The programme will ensure that 5,400 children have access to safe drinking water, hygienic toilet facilities, modern and relevant teaching and learning materials
, and safe bright classrooms.
• Boosting funding for a programme focused on the social adjustment of children in the slums of Bogota, Colombia through funding of the game of peace, Golombiao. This programme will directly benefit 4,000 children, teaching them conflict management
skills, promoting peaceful co-existence and preventing their attachment to violence and their participation in illegal armed groups. The Morgans matched dollar for dollar a public appeal run in Bogota for the initiative.
• Boosting funding for a programme of assisting displaced indigenous communities around Asuncion
, the capital of Paraguay
. This programme will provide improved access to health, education and family protection of 670 children and adolescents working on the streets.
• Edric Baker – an inspirational medical doctor who has worked in northern Bangladesh
for over 20 years, establishing the Kailakuri Health Centre.
• Scott and &Tracey Dumbleton – a husband & wife ophthalmic team who worked at the Gilgit Eye Hospital in remote northern Pakistan.
• Tristan de Chalain and the plastic surgery reconstruction
team at Middlemore Hospital
who travel to the Philippines
every year to surgically repair cleft lips and palates for affected underprivileged Filipino children.
• Judy and Ralph Duley – a retired couple, physical therapists, who work with orphaned handicapped children in Western China
.
• Rachel Hughes – a young lady who has dedicated a decade to assisting the streetkids of Vladivostok
, protecting them from violence and helping educate them so they can lead fulfilling lives.
• Mary Taylor and her project to help Sri Lankan victims of the 2004 Boxing Day tsunami re-establish their fishing businesses and get back on their feet.
• In 2010 Gareth and Jo provided University of Victoria’s Antarctic Research Centre
funding to hire two researchers to work on aspects of climate change
in Antarctica.
• In 2011 Gareth helped Wellington Zoo
fund the recovery and rehabilitation of Happy Feet, the stranded Emperor Penguin
. He did this by matching dollar for dollar a public appeal for funding.
• In 2011 Gareth has been organising a major scientific and public awareness programme on the environment and territorial threats to Antarctica. This programme centres around a voyage from Bluff to Scott Base
taking place in February 2012. On board will be a complement of New Zealand’s top scientists and a range of communicators chosen from across New Zealand. The objective is to raise the New Zealanders’ awareness of the race for resources, the sensitivity of the continent to climate change and the threat to biodiversity of our subantarctic islands from overfishing
, marine pollution and climate change.
New Zealand
New Zealand is an island country in the south-western Pacific Ocean comprising two main landmasses and numerous smaller islands. The country is situated some east of Australia across the Tasman Sea, and roughly south of the Pacific island nations of New Caledonia, Fiji, and Tonga...
businessman, economist, investment manager, motor cycle adventurer, public commentator and philanthropist
Philanthropist
A philanthropist is someone who engages in philanthropy; that is, someone who donates his or her time, money, and/or reputation to charitable causes...
. He is father of Sam Morgan
Sam Morgan (entrepreneur)
Sam Morgan is best known as the founder of TradeMe, New Zealand's largest online auction site, which he sold in 2006 to Australian media company Fairfax for over NZ$750 million.- Personal history :...
(founder of TradeMe
TradeMe
Trade Me is the largest Internet-auction website operating in New Zealand. Managed by Trade Me Ltd the site was founded in 1999 by New Zealand entrepreneurSam Morgan who sold it to Fairfax in 2006 for NZ$700 million...
) and was an early TradeMe investor and director. When TradeMe sold to Fairfax Media
Fairfax Media
Fairfax Media Limited is one of Australia's largest diversified media companies. The group's operations include newspapers, magazines, radios and digital media operating in Australia and New Zealand. Fairfax Media was founded by the Fairfax family as John Fairfax and Sons, later to become John...
, Gareth and his wife Joanne received NZ$50 million, which they donated to their charitable foundation, the Morgan Foundation which administers the Morgan’s philanthropic work. Gareth and Jo Morgan are UNICEF Ambassadors.
Family
Morgan was born in PutaruruPutaruru
Putaruru is a small town in the Waikato region of New Zealand's North Island. It is on the Oraka River 65 kilometres south-east of Hamilton....
, New Zealand to Roderic and Mary Morgan, the second of five children and the first to be born in New Zealand. He married Joanne Baird from Invercargill
Invercargill
Invercargill is the southernmost and westernmost city in New Zealand, and one of the southernmost cities in the world. It is the commercial centre of the Southland region. It lies in the heart of the wide expanse of the Southland Plains on the Oreti or New River some 18 km north of Bluff,...
in 1975. They have four children: Samuel, Jessi, Floyd and Ruby. They also have four grandchildren.
Education
From 1958-1970, Morgan attended school in Putaruru – Oraka Heights Primary and Putaruru High. He then attended Massey UniversityMassey University
Massey University is one of New Zealand's largest universities with approximately 36,000 students, 20,000 of whom are extramural students.The University has campuses in Palmerston North , Wellington and Auckland . Massey offers most of its degrees extramurally within New Zealand and internationally...
for four years gaining a BA (Hons) in Economics
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
. In 1982 he graduated from Victoria University
Victoria University
Victoria University may refer to:* Victoria University, Australia, Melbourne, Australia* Victoria University of Bangladesh, Dhaka, Bangladesh* University of Victoria, British Columbia, Canada...
with a PhD in economics.
Career and Business
Morgan worked for the Reserve Bank of New ZealandReserve Bank of New Zealand
The Reserve Bank of New Zealand is the central bank of New Zealand and is constituted under the Reserve Bank of New Zealand Act 1989. The Governor of the Reserve Bank is responsible for New Zealand's currency and operating monetary policy. The Bank's current Governor is Dr. Alan Bollard...
in the early 1980s, before founding economics forecasting company Infometrics Limited in 1983. That company became one of New Zealand’s largest independent economics consultancy and forecasting businesses and for 18 years while under Morgan’s leadership (until the end of the 1990s) maintained a regular national circuit of business and public speaking engagements focussed on raising the economics literacy of businesspeople and householders.
In 1984 he and business partner Andrew Gawith launched a twice weekly horse racing form guide, Bettor Informed, based on econometric modelling
Econometrics
Econometrics has been defined as "the application of mathematics and statistical methods to economic data" and described as the branch of economics "that aims to give empirical content to economic relations." More precisely, it is "the quantitative analysis of actual economic phenomena based on...
of all 7,500 gallopers on the New Zealand scene. The publication sought to identify the fair dividend for each horse and to instruct its readers when the odds being paid at the tote were a good return compared to the horse’s actual chances of winning in that field. The publication was sold to Independent Newspapers, owners of competitors Best Bets and Turf Digest.
In 2000, Gareth established Gareth Morgan Investments Limited (GMI), a personal investment portfolio management service, which has grown to be one of the largest private businesses of its type in New Zealand. When the New Zealand Government initiated KiwiSaver
KiwiSaver
The KiwiSaver scheme is a New Zealand voluntary long-term savings scheme which came into operation from Monday, 2 July 2007. The main purpose of the KiwiSaver fund is for retirement savings....
in 2007, Gareth Morgan KiwiSaver Limited (GMK) launched the Gareth Morgan KiwiSaver Scheme.
Morgan is well known for taking New Zealand’s financial services industry to task for questionable ethics and abuse of investors. Over two decades he’s been persistent in exposing and criticising the sector, challenging the financial sector to produce safer and more ethical products. Morgan and his wife Joanne were early investors in TradeMe, founded by his son Sam Morgan. They were paid NZ$50m for their shares when Fairfax Media bought Trade Me in 2006. When asked what they would do with so much money, Gareth famously retorted “Let’s just give it away.” They founded the Morgan Foundation, which administers their philanthropic work around the world.
Morgan was a member of the Government appointed Capital Markets Task Force (2008–2009) and the Tax Working Group (2009). He is the chair of the Motor Cycle Safety Levy Advisory Council, Patron of Wing 256 NZ Police Cadets, and was North & South’s New Zealander of the Year in 2007.
In 2011, concerned that Wellington
Wellington
Wellington is the capital city and third most populous urban area of New Zealand, although it is likely to have surpassed Christchurch due to the exodus following the Canterbury Earthquake. It is at the southwestern tip of the North Island, between Cook Strait and the Rimutaka Range...
was about to lose its most iconic sports franchise, Gareth and six other passionate Wellingtonians joined together to rescue the Wellington Phoenix, the only professional football
Professional football
In the United States and Canada, the term professional football includes the professional forms of American and Canadian gridiron football. In common usage, it refers to former and existing major football leagues in either country...
team in New Zealand. The new owners have promised to run the club at a profit and to reinvest every dollar back into the club and the development of the game in Wellington and beyond.
Books and Publishing
Morgan has instigated a series of public commentaries and books on issues of public interest. The purpose has been to raise awareness and encourage development of improved response to issues of public concern.2009 – Poles Apart – a book surveying the state of the science around the phenomenon of anthropogenic climate change. This book won a Royal Society prize for excellence. It enlisted the assistance of international eminent scientists on both sides of the debate in a project to determine the weight of evidence around the hypothesis that human-induced climate change is present.
2010 – Health Cheque – a book assessing the state of our public health system
Health system
A health system can be defined as the structured and interrelated set of all actors and institutions contributing to health improvement. The health system boundaries could then be referred to the concept of health action, which is "any set of activities whose primary intent is to improve or...
, international benchmarking of its excellence and formulating suggestions for improvement. The technique involved a combination of literature research and extensive interviewing of health professionals (clinical and management) working throughout New Zealand’s public health system.
2011 – The Big Kahuna – this book investigated the contribution that unpaid work makes to New Zealand society, and the consequences of measures of economic production not explicitly recognising such contributions – from community service, to care of the young and elderly. It recommended a series of policy responses to correct the omission.
2011 – Hook, Line and Blinkers – a book assessing the state of the world fish stocks and then appraising the state of fisheries management in New Zealand. The purpose is to identify where the management regime can be improved to ensure that our grandchildren’s grandchildren can continue to enjoy the bounty of the sea in a sustainable fashion.
Gareth Morgan Related Websites
Morgan Foundation - Gareth and Jo Morgan's philanthropic endeavoursUNICEF Support - Gareth and Jo Morgan are UNICEF NZ Ambassadors
KiwiSaver – the Gareth Morgan KiwiSaver Scheme
Our Far South - attempting to raise New Zealanders' awareness of Antarctica & the sub-Antarctic Islands
Tax and Welfare reform, The Big Kahuna – an economic and policy investigation of tax and welfare in New Zealand
Health Cheque – an economic and policy investigation of New Zealand’s Health System
Climate Change, Poles Apart – a climate change investigation
Philanthropy: UNICEF Projects
Along with his wife Jo, Gareth Morgan has been a UNICEF NZ Ambassador and major donor since 2007 and has instigated a number of specific programmes in conjunction with UNICEF since that time. They include:• A water project in Tanzania
Tanzania
The United Republic of Tanzania is a country in East Africa bordered by Kenya and Uganda to the north, Rwanda, Burundi, and the Democratic Republic of the Congo to the west, and Zambia, Malawi, and Mozambique to the south. The country's eastern borders lie on the Indian Ocean.Tanzania is a state...
where the Morgans matched a NZ public appeal dollar for dollar for funding to install boreholes, wells and water tanks in 29 villages, and provide basic hygiene education, directly benefiting over 65,000 people.
• Repairs to 44 tsunami-damaged schools in the Solomon Islands
Solomon Islands
Solomon Islands is a sovereign state in Oceania, east of Papua New Guinea, consisting of nearly one thousand islands. It covers a land mass of . The capital, Honiara, is located on the island of Guadalcanal...
where the Morgans matched a NZ public appeal dollar for dollar. The programme will ensure that 5,400 children have access to safe drinking water, hygienic toilet facilities, modern and relevant teaching and learning materials
Learning
Learning is acquiring new or modifying existing knowledge, behaviors, skills, values, or preferences and may involve synthesizing different types of information. The ability to learn is possessed by humans, animals and some machines. Progress over time tends to follow learning curves.Human learning...
, and safe bright classrooms.
• Boosting funding for a programme focused on the social adjustment of children in the slums of Bogota, Colombia through funding of the game of peace, Golombiao. This programme will directly benefit 4,000 children, teaching them conflict management
Conflict management
Conflict management involves implementing strategies to limit the negative aspects of conflict and to increase the positive aspects of conflict at a level equal to or higher than where the conflict is taking place. Furthermore, the aim of conflict management is to enhance learning and group outcomes...
skills, promoting peaceful co-existence and preventing their attachment to violence and their participation in illegal armed groups. The Morgans matched dollar for dollar a public appeal run in Bogota for the initiative.
• Boosting funding for a programme of assisting displaced indigenous communities around Asuncion
Asunción
Asunción is the capital and largest city of Paraguay.The "Ciudad de Asunción" is an autonomous capital district not part of any department. The metropolitan area, called Gran Asunción, includes the cities of San Lorenzo, Fernando de la Mora, Lambaré, Luque, Mariano Roque Alonso, Ñemby, San...
, the capital of Paraguay
Paraguay
Paraguay , officially the Republic of Paraguay , is a landlocked country in South America. It is bordered by Argentina to the south and southwest, Brazil to the east and northeast, and Bolivia to the northwest. Paraguay lies on both banks of the Paraguay River, which runs through the center of the...
. This programme will provide improved access to health, education and family protection of 670 children and adolescents working on the streets.
Philanthropy: The Kiwi Heroes Programme
Since 2006 Gareth and Joanne have supported the work of a number of New Zealanders involved in significant foreign aid around the world. They include:• Edric Baker – an inspirational medical doctor who has worked in northern Bangladesh
Bangladesh
Bangladesh , officially the People's Republic of Bangladesh is a sovereign state located in South Asia. It is bordered by India on all sides except for a small border with Burma to the far southeast and by the Bay of Bengal to the south...
for over 20 years, establishing the Kailakuri Health Centre.
• Scott and &Tracey Dumbleton – a husband & wife ophthalmic team who worked at the Gilgit Eye Hospital in remote northern Pakistan.
• Tristan de Chalain and the plastic surgery reconstruction
Plastic surgery
Plastic surgery is a medical specialty concerned with the correction or restoration of form and function. Though cosmetic or aesthetic surgery is the best-known kind of plastic surgery, most plastic surgery is not cosmetic: plastic surgery includes many types of reconstructive surgery, hand...
team at Middlemore Hospital
Middlemore Hospital
Middlemore Hospital is a major hospital in the suburb of Middlemore, Manukau City, New Zealand. The largest hospital operated by the Counties Manukau District Health Board, it offers tertiary-level care as well as a range of other health and social services for the Counties Manukau...
who travel to the Philippines
Philippines
The Philippines , officially known as the Republic of the Philippines , is a country in Southeast Asia in the western Pacific Ocean. To its north across the Luzon Strait lies Taiwan. West across the South China Sea sits Vietnam...
every year to surgically repair cleft lips and palates for affected underprivileged Filipino children.
• Judy and Ralph Duley – a retired couple, physical therapists, who work with orphaned handicapped children in Western China
Western China
Western China , refers to the western part of China. In the definition of the Chinese government, Western China covers six provinces: Gansu, Guizhou, Qinghai, Shaanxi, Sichuan, and Yunnan; one municipality: Chongqing; and three autonomous regions: Ningxia, Tibet, and Xinjiang.-Administrative...
.
• Rachel Hughes – a young lady who has dedicated a decade to assisting the streetkids of Vladivostok
Vladivostok
The city is located in the southern extremity of Muravyov-Amursky Peninsula, which is about 30 km long and approximately 12 km wide.The highest point is Mount Kholodilnik, the height of which is 257 m...
, protecting them from violence and helping educate them so they can lead fulfilling lives.
• Mary Taylor and her project to help Sri Lankan victims of the 2004 Boxing Day tsunami re-establish their fishing businesses and get back on their feet.
Environment
• In 2007 Gareth and Jo provided the Island Bay National Wildlife Refuge with funding to prevent a property developer encroaching on a native bush area, instead allowing the land to be turned into a reserve for the benefit of the whole community.• In 2010 Gareth and Jo provided University of Victoria’s Antarctic Research Centre
Antarctic Research Centre
The Antarctic Research Centre is part of the School of Geography, Environment and Earth Sciences at Victoria University of Wellington. Its mission is to research "Antarctic climate history and processes, and their influence on the global climate system." Its current director is Professor Tim...
funding to hire two researchers to work on aspects of climate change
Climate change
Climate change is a significant and lasting change in the statistical distribution of weather patterns over periods ranging from decades to millions of years. It may be a change in average weather conditions or the distribution of events around that average...
in Antarctica.
• In 2011 Gareth helped Wellington Zoo
Wellington Zoo
Wellington Zoo is nestled in the green belt of Wellington, New Zealand. Now over 100 years old, it was the country’s first Zoo and has dedicated to over 100 different species of fauna from across the globe...
fund the recovery and rehabilitation of Happy Feet, the stranded Emperor Penguin
Emperor Penguin
The Emperor Penguin is the tallest and heaviest of all living penguin species and is endemic to Antarctica. The male and female are similar in plumage and size, reaching in height and weighing anywhere from . The dorsal side and head are black and sharply delineated from the white belly,...
. He did this by matching dollar for dollar a public appeal for funding.
• In 2011 Gareth has been organising a major scientific and public awareness programme on the environment and territorial threats to Antarctica. This programme centres around a voyage from Bluff to Scott Base
Scott Base
Scott Base is a research facility located in Antarctica and is operated by New Zealand. It was named after Captain Robert Falcon Scott, Royal Navy, leader of two British expeditions to the Ross Sea area of Antarctica...
taking place in February 2012. On board will be a complement of New Zealand’s top scientists and a range of communicators chosen from across New Zealand. The objective is to raise the New Zealanders’ awareness of the race for resources, the sensitivity of the continent to climate change and the threat to biodiversity of our subantarctic islands from overfishing
Overfishing
Overfishing occurs when fishing activities reduce fish stocks below an acceptable level. This can occur in any body of water from a pond to the oceans....
, marine pollution and climate change.