By Renju Jose and Lucy Craymer
SYDNEY (Reuters) -Former investment banker Rodger Finlay has been appointed chair of the Reserve Bank of New Zealand (RBNZ), Finance Minister Nicola Willis said on Thursday.
Finlay has been deputy chair of the RBNZ since February 2023 and has been exercising the functions of the chair since August.
Finlay fills a role left open after former chairman Neil Quigley resigned with immediate effect in August due to his handling of the sudden resignation of the central bank’s governor Adrian Orr earlier this year.
The appointment comes ahead of Swedish economist Anna Breman starting as the new central bank governor on December 1.
“I have confidence in him (Finlay) to lead the work to deliver on the Government’s expectations for increased accountability, transparency and fiscal discipline and to focus on the Bank’s statutory responsibilities,” Willis said on announcing the decision.
The Reserve bank of New Zealand website said Finlay ended his career as an investment banker and fund manager in 2008 having spend 26 years working principally for CS First Boston, Paribas and UBS. It added he has also previously held roles chairing listed a number of companies including NZ Post and Kiwi Group Holdings.
Finlay said in a statement that he looked forward to supporting a renewed focus on effectively and efficiently delivering the Bank’s economic, financial stability and broader banking objectives.
(Reporting by Renju Jose in Sydney; Editing by Leslie Adler and Alistair Bell)
