FMA makes three further leadership team appointments and announces Auckland location

Wednesday 10th August 2011 2 Comments

The Financial Markets Authority has made three further appointments to its strategic leadership team under Chief Executive Sean Hughes, and announced its new Auckland office premises.

FMA has taken a seven-year lease of level 5, East Building, 52-70 Galway Street, Britomart, which has capacity for more than 50 staff.

"We are very pleased to have secured such a well-appointed and central CBD office location which has the capacity to accommodate FMA's growing Auckland team," said Hughes. "We begin moving our staff in later this month."

The new leadership team appointees are:

Diane Maxwell, Head of Stakeholder Management

Maxwell is currently Head of Brand and Corporate Affairs at BNZ. Maxwell has been at the Bank since 2007 when she joined as External Relations Manager. She brings strong strategic leadership capability with senior-level experience in general management, marketing, media, advertising, stakeholder engagement and brand development. Tomorrow, she chairs a session at the Financial Summit hosted by Commerce Minister Simon Power. Maxwell will be based in FMA's Auckland office. Her start date will be mid-October.

Maxwell's new role at FMA will provide strategic and operational management of FMA's wide-ranging communications activities. This will include building effective relationships with a range of market participants and stakeholders including those in government, the financial sector, co-regulators in New Zealand and internationally, the media and the public.

Duncan Smith, Head of Business Performance

Smith is currently Chief Operating Officer at Minter Ellison Rudd Watts. Prior to joining MERW eight years ago, he had CFO roles with KPMG Russia/CIS and TransTasman Properties in New Zealand, and accounting and audit roles for KPMG in Moscow, Cayman Islands, Budapest and New Zealand. Smith brings a strong commercial background and a commitment to achieving tangible outcomes that contribute to business success to the role. His start date is 12 September. He too will be based in our Auckland office.

Smith's role will involve him working with his fellow leadership team members to ensure FMA has the organisational performance tools and capability to function effectively and meet its strategic goals. He will oversee human resources, finance, IT and shared administrative services.

Hughes said that an executive recruitment search process will continue for the two remaining roles, that of Head of Enforcement and Head of Market Intelligence.

In the meantime, Nick Williams, a partner at Meredith Connell law firm, will be Acting Head of Enforcement, based in Auckland. He began in August and will remain in this position until a permanent appointment to the role is made.

Nick Williams, Acting Head of Enforcement

Williams is an experienced litigation lawyer, and obtained his CFA designation while working for Citibank Private Bank in Geneva. He has already been pivotally involved in the development and prosecution of a number of FMA's court cases - particularly in those relating to failed finance companies.

His role will be to oversee the management and development of FMA's enforcement services and to lead FMA's team of forensic accountants, investigators and litigation lawyers.

"We are very grateful to Meredith Connell for seconding Nick to support us at this time, and for their willingness to further assist with strategic secondments of two other litigation lawyers over the coming months," said Hughes.

He said these three further appointments confirmed that FMA was putting in place a highly skilled leadership team with a considerable depth of experience and expertise.

"The Board and I are delighted that Diane, Duncan and Nick have joined the FMA team," said Hughes.

Source: FMA

Comments from our readers

On 11 August 2011 at 12:22 pm richard oconnor said:

I agree that these new seniour appointments are of great importance. Should the FMA not seek to appoint a permanent head of Enforcement (possibly the most pivotal role) with a track record of delivering on the stated aims of the organisation (no reflction on the temporary head)? This is vital for NZ's economic well being. Could the FMA not get someone like Liesbeth Koomen back from Aussie, who whilst heading up the litigation/enforcement funtion at the Commerce Commission under Paula Rebstock delivered all of their successful and big prosecutions - from nearly none before her appointment and hardly any after she left. The high profile Telecom judgment being one of the last cases of her era, though only handed down recently. By way of illustration, I understand that since she her time (& Paula Rebstocks of course)hardly any major prosecutions have been taken by the CC, and not one concerning anti competitive behaviour (s.36) action has been brought. Remebering that this is half of the reason for the Commissions existence and indeed their Statutory duty to investigate. Let's have a real 'do'er' in the (permanent) role to give the FMA some real clout.

On 11 February 2012 at 9:30 am peter said:

we certainly don't want Paula Rebstock back!