Reserve Bank Refresh Continues

Former investment banker Rodger Finlay has been appointed Chair of the Reserve Bank and businesswoman Rhiannon McKinnon has been appointed to the Bank’s Board.

Progress in the Reserve Bank Refresh

Finance Minister Nicola Willis says the appointments mark further progress in the ongoing refresh of the Reserve Bank. She notes that the Bank now has a new Chair, a new Governor who begins next week, new members of the Board and Monetary Policy Committee, a new Financial Policy Committee, and a new funding agreement. She also highlights that the Bank is operating under updated expectations from the Government that require greater focus on banking competition.

Background on Rodger Finlay

Nicola Willis says Rodger Finlay has served as Deputy Chair of the Bank since February 2023 and has carried out the responsibilities of the Chair since August. She expresses confidence in his ability to support the Government’s expectations for enhanced accountability, transparency and fiscal discipline, and to prioritise the Bank’s statutory functions. His previous governance experience includes chairing NZ Post, Kiwi Group Holdings, NZ Oil and Gas and PGG Wrightson.

Background on Rhiannon McKinnon

Rhiannon McKinnon is a Chartered Financial Analyst and former chief executive of Kiwi Wealth, where she oversaw the management of $10 billion in funds. She provides coaching and advice to CEOs and has held board positions with the NZ Film Commission, CFA Society of NZ and Dress for Success Wellington.

Appointment Terms

Rodger Finlay’s appointment extends for the remainder of his current term, which runs to 30 June 2027. Rhiannon McKinnon’s appointment is for a five-year term ending on 30 November 2030.