ADRIAN ORR APPOINTED NZ RESERVE BANK GOVERNOR
The chief executive of the Superfund, Adrian Orr, has been appointed as the new New Zealand Reserve Bank Governor.
He will take up the role on 27 March, 2018.
The Finance Minister, Grant Robertson, said he was delighted the Bank’s board was able to secure a Governor with such a strong track record of delivery and public service.
“He’s run the Super Fund extremely well, it is one of the most successful sovereign wealth funds in the world and so I think the experience he got working in, I guess what I would call the real economy, will be very useful as we move forward down the path of change that we’re going down with the bank.”
The NZ government is planning to change monetary policy so the Reserve Bank has to take employment into account when setting the official cash rate and has appointed an advisory committee on how best to achieve this.
Mr Robertson said Mr Orr is the right person to lead the bank through this period.
“Mr Orr is delighted to take up the appointment, he sees it as a great honour to serve his country in this role, obviously he was the deputy governor so he has spent time at the bank and it’s a role I think he is very much looking forward to.”
Mr Robertson thanked the acting Governor, Grant Spencer, for his work in the role and wished him all the best. The appointment has taken the market by surprise. Read more at: http://www. radionz.co.nz/news/business/345956/adrian-orr-appointed-reserve-bank-governor
RNZI