Wellington, Nov 11 NZPA - The new group chief executive of listed rural services and finance company Allied Farmers is Paul Macfie, who has spent more than 30 years in rural industries.

He replaces David Bale who recently announced he was stepping down from the position.

Allied Farmers said Mr Macfie's experience included senior management roles at Wrightson NMA, SouthFert, Allied Farmers and Williams & Kettle.

In the past 18 months he had worked for the NZX sharebroker McDouall Stuart focusing on investment banking transactions with a rural emphasis.

Mr Macfie will start his new Taranaki-based role on November 12.

Allied Farmers shares closed at a year low of $1.10 yesterday.

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