Hon Nicola Willis
Minister of Finance

Former Acting Governor Grant Spencer has been appointed to the Reserve Bank of New Zealand Board, Finance Minister Nicola Willis has announced.

Board member Byron Pepper has been reappointed. Both are on five-year terms, beginning today.

“Grant Spencer brings expertise in central banking, financial stability, and monetary policy,” Nicola Willis says.

Spencer also served as Deputy Governor, Head of Financial Stability from 2007 to 2017 and was Acting Governor from 2017 to 2018.

Nicola Willis says Byron Pepper’s reappointment reflects his contribution to the Reserve Bank Board.

“Mr Pepper has recently been made chairman of the RBNZ’s Financial Stability Oversight Committee. He is an experienced investment banking advisor and director with more than 25 years of experience, including 22 years at Goldman Sachs, bringing expertise in corporate strategy, financial services, and insurance.”

Nicola Willis also acknowledged the contribution of Rawinia Higgins, who retired from the Board effective June 30.

There remains one vacancy on the Board, which will be filled in due course.

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