The Reserve Bank has chosen investment banker Rodger Finlay as its new chair.
He was previously chair of NZPost, Kiwi Group Holdings, and PGG Wrightson, deputy chair of Rural Equities, and audit chairman of Ngāi Tahu Holdings.
Businesswoman Rhiannon McKinnon has been appointed to the central bank’s board.
McKinnon founded Cassiobury, a consulting business advising chief executives.
She was also a chartered financial analyst and former chief executive of Kiwi Wealth where she managed $10 billion in funds.
“The appointments are the latest milestones in the refresh of the Reserve Bank,” Finance Minister Nicola Willis said.
Swedish economist Dr Anna Breman starts as the central bank’s governor on Monday.
Willis said the Reserve Bank was also operating under a fresh set of expectations from the Government that require it to place greater emphasis on banking competition.
Finlay had been the central bank’s deputy chair since February 2023.
Willis said she had confidence in him to deliver more accountability, transparency and fiscal discipline.
She said Finlay had experience governing large, complex organisations in the private and public sectors.
Finlay said the past year had involved extensive changes for the Reserve Bank.
He said he looked forward to supporting a focus on delivering the central bank’s economic, financial stability, and broader central banking objectives.
Finlay said McKinnon was an experienced financial professional with a strong background in leadership and strategy.
Finlay’s appointment was until June 30, 2027.
McKinnon’s appointment was until November 30, 2030.
The central bank yesterday cut the Official Cash Rate(OCR) by 25 basis points to 2.25%.
It also released its Monetary Policy Statement.
Breman is replacing Christian Hawkesby, who took over as governor from Adrian Orr.
Orr resigned in March.
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