MR No. 2022 – 33
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko today announced changes to its executive leadership team as part of its programme to evolve and transform the way it operates, prepare for its expanding mandate, and continue to foster a strong and trusted financial sector that treats people fairly.
Announcing the new leadership team structure, Samantha Barrass, FMA Chief Executive, acknowledged the positive participation from the current FMA Executive Committee in the recent consultation process.
“I want to ensure the FMA is best positioned to accelerate our growth and transformation plans as we prepare for a larger role focused on outcomes for consumers of financial services in Aotearoa. We are evolving and growing to deliver our existing responsibilities, alongside the increase of our legislative mandate. To reflect these changes we are introducing a simpler organisational design where senior leaders work at the right strategic level, supporting stronger collaboration across high-performing, functional teams,” Ms Barrass said.
The FMA new enterprise leadership will consist of six executive level roles reporting directly to the Chief Executive:
“I am delighted to confirm that Liam Mason has been appointed to the role of Executive Director, Evaluation & Oversight – Mr Mason will continue as General Counsel. Paul Gregory has been appointed to the role of Executive Director, Response & Enforcement, and Clare Bolingford has been appointed to the role of Executive Director, Regulatory Delivery.”
The FMA will shortly commence an external recruitment process for the roles of Executive Director, Strategy & Design, and Executive Director, Transformation & Operational Delivery.
The current Executive Committee will be disestablished early in the new year and the new structure will take effect at the same time.
“I want to acknowledge the enormous contribution from remaining members of the FMA’s current leadership team. Sarah Feehan, who has successfully led the People and Capability function for five years, will take up a similar senior leadership people role reporting to the new Executive Director, Transformation & Operational Delivery,” Ms Barrass said.
James Greig (Director of Supervision) will continue to support his current team in the transition to the FMA’s new structure, while future senior leadership roles are considered to make best use of his knowledge and extensive experience.
After six years of valued leadership, lifting the performance of the Operations team at the FMA, Brad Edley, Chief Operating Officer, has decided now is the right time for him to take the next steps in his career outside the FMA. Mr Edley has made a significant contribution to the organisation, and his advice and leadership have been invaluable. His last day at the FMA will be Friday 23 September.
John Botica will continue to support the organisation through a transitional role to help the FMA prepare and implement the new structure. In the interim, Mr Botica has agreed to take on the role of Chief Operating Officer in addition to his current role from 26 September, and to reflect his combined roles his title will be Director of Regulation and Operations.
“All these individuals are held in the highest regard and respect by our staff and the FMA Board, and have each played a significant part in our success, over many years of service to the agency.
“As we aim to grow into a world-class conduct regulator, helping more New Zealanders than ever believe the financial services sector is working well for them, I recognise we need to build on the strengths that have helped the FMA get to where we are today,” Ms Barrass said.
“I will be focused on implementing a smooth transition to the new enterprise leadership structure while maintaining our current momentum. We will effectively and efficiently continue to deliver on our priorities, and maintain our reputation as an open, accessible and engaged regulator while completing these changes.”
FMA Media Relations Manager
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FMA Senior Adviser, Media Relations
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