The Board

Comrade Trustee Services Limited (CTSL) is managed under the direction of the board of directors.

The board has eight directors: three representatives of the Fund (two contributors and one pensioner) and five independent directors. See the current members below.

The role of the board

Collectively, the board members plan, oversee and set corporate goals, and decide on the strategic direction of the Fund.

The board is responsible for the Fund’s corporate governance, including:

  • corporate planning
  • establishing goals for management
  • monitoring achievement of these goals.

Read more about good corporate governance.

Criteria for board members

All board members must meet strict criteria, including a ‘fit and proper’ test, to ensure that they:

  • are legally eligible
  • have the necessary skills, knowledge, experience or expertise in managing commercial entities
  • can add value and enhance corporate governance.

Appointments to the board must be approved by the Bank of Papua New Guinea (the Fund regulator).

Directors hold office for three years. After this, they may nominate for re-election subject to any restrictions in the company constitution and approval by the Central Bank.

Board Members

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Michelle Hau’ofa is the Chair of Comrade Trustees Services Ltd (CTSL) Fund Board.  She is currently a member of the CTSL Audit, Risk & Compliance, Membership and Remuneration & Nomination Committees.  She is also a member of the Toea Homes Limited Board.   She brings to the role broad experience in business, property development, corporate governance, community development and public health program administration.

Michelle has previously served on the Boards of Westpac PNG as an Independent Director, and Transparency International PNG as Treasurer and later Secretary. Along with her corporate board positions Michelle contributes to her community by serving on the Advisory Boards of Callan Services for Persons with Disabilities National Unit as Deputy Chair, and Samaritan Aviation.

Michelle maintains an active membership of the PNG Institute of Directors and the Australian Institute of Company Directors. She is undertaking a Master of Business Administration with Torrens University, and for continuing professional development is an alumnus of the Harvard Business School and the London School of Economics and Political Science certificate programs.

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Commodore is a member of the PNG Institute of Directors.

Commodore Philip Polewara was appointed to the Board on 24 June 2016 and reappointed on 2 August 2023.  Commodore Polewara represents the contributory members of the Fund and is currently a member of the CTSL Investment and Membership Committees, and he is also a member of the Toea Homes Limited Board.

Commodore served as a Naval Officer in various capacities on Landing Crat Heavy and Fast Patrol Boats as a Navigating Officer and Executive Officer.  His operational experiences include the command of various Naval Units from 1992 to 2022, including security operations during the Bougainville crisis.

Commodore is a graduate of the US Naval Staff College, the US Joint Forces Staff College, and the US Naval Command College.  He also served as an International Fellow at the Naval War College after graduating in 2013.

Commodore has a Bachelor of Business in Public Policy from UPONG and a Master of Liberal Arts in International Relations from Salve Regina University in Newport, US. 

Commodore is a member of the PNG Institute of Directors.

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Colonel Fred Aile was appointed to the Board on 2 August 2023, he represents the contributory members of the Fund and is currently a member of the CTSL Audit, Risk & Compliance, Membership and Remuneration & Nomination Committees.  He is also a member of the Toea Homes Limited Board.

Colonel served as an Infantry Officer in various capacities as a Platoon Commander up to a Battalion Commander in the two Infantry Regiments, and as a Staff Officer at the Headquarters PNG Defense Force, Murray Barracks.   He served during the Bougainville crisis, the Regional Assistance to Solomon Islands (RAMSI) and the National State of Emergencies.

Colonel is a graduate of the Malaysian Armed Forces Staff College in 2010 and the US Naval Command College 2018/2019.  Colonel also holds a Bachelor of Business Administration, majoring in Accounting from Pacific Adventist University.

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Charles Lee was appointed to the Board on 4 August 2023 and is currently the Chairperson of the CTSL Investment Committee.  He is currently the Chairman of the Toea Homes Limited Board since 7 November 2023.

Charles has over 18 years of practical experience in superannuation, banking, investment advisory, funds management and insurance both at the executive management and board levels.

He was a former Chief Investment Officer at Nasfund before taking on Board and Committee roles at BSP Financial Group, Capital Insurance Group where he was Chair of the Audit and Risk Committee, Trukai Industries and Amalgamated Packaging Limited. Charles was the recipient of the 2018 Papua New Guinea Institute of Director's Young Director of the Year Award.

He holds a bachelor’s degree in business economics from the University of Papua New Guinea and postgraduate qualifications from Kaplan Institute Australia, Sydney University of Technology and Melbourne Business School in Applied Finance, Financial Analysis and Management respectively.

Charles currently serves as a Director on the CTSL Board and Chairs the Board's Investment Committee. He also Chairs the Board of Toea Homes Limited, a 100 percent subsidiary company of CTSL. 

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Chetan Chopra was appointed to the CTSL Board on 2 August 2023 and is currently the Chairperson of the CTSL Audit, Risk & Compliance Committee and a member of the Membership and Remuneration & Nomination Committees.

Chetan Chopra is a widely experienced finance executive and joins the CTSL Board after spending the past 6 years as CFO of Kina Securities Limited.  Prior to that Chetan was the CFO of PNG’s largest superannuation fund, Nambawan Super Limited.  An accountant by profession, Chetan previously worked for many years as a PNG partner for KPMG and as CFO for Dun and Bradstreet South Asia. He has also held a number of senior leadership roles in both private companies and public sector organizations, including the Australian Taxation Office.

Chetan brings a complimentary mix of entrepreneurial CFO skills and financial governance expertise which he has developed during the 35 years working in the financial services industry in investment, superannuation and financial services globally including 16 years in Papua New Guinea (PNG).  He has significant experience-based understanding of provincial and community development needs in PNG communities supported by extensive networks, professional relationships, and business partnerships globally and in PNG.

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Mr. Warwick George Vele joined CTSL Board on 4 August 2023 and is currently the Chairperson of the CTSL Membership Committee and a member of the Investment Committee.

Warwick brings to the role a wealth of industry experience in Superannuation, Banking and Finance, ICT, and Investment roles.  His capability also extends to include International Development both in the Regional and Global space.  He was previously the Chief Technology Officer and then the General Manager Strategic Partnerships for Kina Securities Limited.  Warwick was also the Chief Operating Officer at Nasfund.  His current role is Program Implementation Director for DT Global (which acquired Cardno International Development).

Warwick holds a Bachelor in Science from the University of Sydney.

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Vera Raga joined the Board of CTSL on the 4 August 2023 and is the Chairperson for the Remuneration and Nomination Committee.

Vera was previously a board member of Nasfund and NCSL before joining the board of CTSL, so he has experience in the superannuation and savings and loans industry.  Vera is also the EO of the Association of Superannuation Funds of Papua New Guinea.   He has also been a board member of past and present companies and state-owned government and regulatory boards including National Housing Corporation (NHC) and Special Economic Zone Authority (SEZA) of Papua New Guinea.

Vera is a registered member of the AICD, PNGID, and the Law Society of Papua New Guinea and practices law as an associate to Diwenis Lawyers.  Vera has extensive experience as a trade union advocate for workers, has been a member of the National Tripartite Consultative Council (NTCC) representing the PNG Banks & Financial Institutions Workers Union (PNGBFIWU), maintains a good network in the best interest of the Fund and holds a Bachelor of Law degree from the University of Papua New Guinea.