28 Nov 2013

New chief executive for financial watchdog

6:09 pm on 28 November 2013

The Financial Markets Authority has a new chief executive to replace Sean Hughes, who did not seek reappointment.

He is Rob Everett, a 45-year-old from Britain, who has had chief operating officer and chief legal counsel roles for American company Merill Lynch and was most recently a director in the United Kingdom with global regulatory consulting group Promontory Financial Group.

FMA chairperson Simon Allen said on Thursday that Mr Everett will bring a global perspective on financial markets and regulation and lead the FMA through the rollout of the Financial Markets Conduct Act.

Mr Everett said the role is a great opportunity to contribute to the development of New Zealand's capital markets and the broader economy. He starts his position in February next year.