New board appointments at FMA

by Krizzel Canlas02 Apr 2019

The government has confirmed the appointment of Mark Todd as the new chairman of the Financial Markets Authority (FMA), and Chris Swasbrook as an associate member.

Todd has been on the FMA board for the last three years playing a key role on the audit and risk committee. He is described to have highly useful experience and his appointment is expected to provide the FMA with continuity, Commerce and Consumer Affairs Minister Kris Faafoi said.

Todd will take over the role of Murray Jack, whose term expires at the end of April.

“I want to thank Murray for his contribution to the FMA since he was first appointed as a member in 2011 and his strong and steady leadership after he became chair in 2014,” Faafoi said.

Read more: Reserve Bank reveals key appointment

Meanwhile, Swasbrook brings a strong understanding of international and New Zealand capital markets and the broader industry to his new role. Currently, he is managing director of Elevation Capital Management and a member of the NZX Listing Sub-Committee and NZ Markets Disciplinary Tribunal. He is set to become a full member of the FMA Board in June, when another member steps down.

Both Todd and Swasbrook were appointed for five-year terms.

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