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The government has announced the appointment of University of Auckland Professor Prasanna Gai to the Financial Markets Authority (FMA) Board.
According to Commerce and Consumer Affairs Minister Kris Faafoi, Gai brings extensive international academic and high-level policy experience in financial market issues and will add a valuable dimension to the board’s work.
Gai is serving a four-year term on the Advisory Scientific Committee of the European Systemic Risk Board. His most recent roles include as a special adviser to the governor of the Bank of Canada and as a senior adviser on financial stability at the Bank of England. He also conducted a formal review of the monetary policy process at the Reserve Bank of New Zealand (RBNZ) in 2011.
Current board member Campbell Stuart, meanwhile, was reappointed for one year.
First appointed to the FMA Board in 2015, Stuart is a registered chartered accountant, who has worked in stockbroking and funds management for the last 30 years, including roles as managing principal at UBS New Zealand and vice chair at NZX. He is currently director of Aspiring Asset Management.
“Mr. Stuart has been a very effective contributor to the FMA Board over the last three years, particularly in technical market-related matters,” Faafoi said. “I am pleased the Board can further benefit from his expertise.”
