Experienced director James Miller is the new Chairman of the Financial Markets Authority (FMA), Finance Minister Nicola Willis and Commerce and Consumer Affairs Minister Cameron Brewer say.
Miller has been appointed for a five-year term, starting immediately, from Thursday, 6 August. He replaces Craig Stobo, who resigned earlier this year, after an independent review into his conduct found "just cause" for him to be removed from the FMA board.
And earlier this week the Ministry of Business, Innovation and Employment said it had appointed Kristy McDonald KC to head up an investigation into "matters raised in relation to workplace conduct and culture" at the FMA, with CEO Samantha Barrass "on a period of leave."
Miller currently chairs Channel Infrastructure NZ and is deputy chairman of Fletcher Building. He is also a director of Vista Group International and Ryman Healthcare. He has previously chaired share market operator the NZX, and in 2025 he was awarded the Beacon Legacy Award by the NZ Shareholders Association.
"James Miller is one of this country's most respected directors, and for the best part of 12 years he has been making the case for a renaissance in New Zealand's capital markets. I am delighted to appoint him to lead the FMA," Willis says.
"His expertise in capital markets, corporate governance and financial regulation, including his time chairing the NZX, and as an inaugural director of the FMA, makes him exactly the leader the FMA needs as it steps into its expanded role."
The FMA recently took on oversight of consumer credit regulation, replacing the Commerce Commission, making it the single financial markets conduct regulator.
Brewer says Trevor Janes has been appointed to the FMA board for a two-year term. Janes was inaugural Chairman of NZ RegCo, the NZX's independent regulatory arm, and brings significant capital markets expertise including in investment management and regulation, and as chairman of NZX-listed companies, says Brewer.
Deputy Chairman Steven Bardy has been the FMA's Acting Chairman since Stobo's departure.
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