Craig Stobo Appointed as Chair of Financial Markets Authority

Bayly underscored the critical role of the FMA in ensuring fairness and transparency within the financial market, thereby bolstering investor confidence and fostering economic growth.

Commerce and Consumer Affairs Minister Andrew Bayly has announced the appointment of Craig Stobo as the new chair of the Financial Markets Authority (FMA). Stobo succeeds Mark Todd, whose term concluded at the end of April, and will serve a five-year tenure.

Bayly underscored the critical role of the FMA in ensuring fairness and transparency within the financial market, thereby bolstering investor confidence and fostering economic growth. He emphasized the necessity of robust leadership to navigate the challenges ahead and support the government's commitment to rebuilding the economy.

Stobo's appointment brings a wealth of experience to the role, spanning various sectors including directorship, diplomacy, economics, and chief executive positions. His comprehensive understanding of market dynamics, regulatory frameworks, and the importance of informed participation will be instrumental in advancing the FMA's objectives.

Bayly also expressed gratitude to outgoing chair Mark Todd for his nearly nine years of service, during which he provided steadfast leadership and spearheaded initiatives to enhance the board's governance capabilities. Todd's tenure witnessed significant milestones, including the appointment of Samantha Barrass as chief executive.

Additionally, Bayly acknowledged the contributions of outgoing board member Mark Weenink, who resigned in May 2024. Weenink's expertise in banking, law, and organizational change proved invaluable during his tenure, particularly in his role as chair of the Audit and Risk Committee.

With Stobo at the helm, the FMA is poised to tackle future challenges and advance the development of New Zealand's financial markets, fostering resilience, trust, and confident participation among stakeholders. You