The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko has confirmed the appointment of Dr Philip Stevens to the role of chief economist, effective November.
Stevens will report directly to chief executive Samantha Barrass, taking on responsibility for advancing the FMA’s research and data-driven regulatory agenda.
Stevens arrives at the FMA with more than two decades of experience in economic analysis and public policy. He holds a doctorate in economics from the University of Oxford and has held various senior positions within New Zealand’s public sector since 2006.
His previous roles include:
He has also served as head of research for the Royal Commission of Inquiry into COVID-19 Lessons Learned.
In his new capacity, Stevens will oversee the FMA’s economic research and analysis, guiding a team tasked with supporting the authority’s regulatory priorities.
The FMA has stated that the chief economist will play a central role in embedding economic theory and analysis into regulatory decision-making, with the goal of deepening the understanding of market dynamics and economic trends across New Zealand’s financial and insurance sectors.
Commenting on the appointment, Barrass said the recruitment process for the chief economist role was comprehensive.
“I am delighted that Philip is joining the FMA. His depth of expertise and leadership will be instrumental in ensuring we focus our regulatory lens on the right priorities. I look forward to working with him to help ensure New Zealand’s financial sector delivers good outcomes for all New Zealanders,” she said.
She added that the chief economist will be responsible for leading a team that delivers robust economic research and analysis, supporting the FMA’s strategic objectives and regulatory focus.
“This role supports our regulatory approach and involves leading and developing a team of researchers and economists to deliver robust economic research and analysis that informs regulatory priorities, embedding the use of economic theory and analysis in our decision making and helping us to better understand economic drivers and market dynamics across the financial sectors that we regulate,” Barrass said.
The appointment follows the FMA’s recent release of its 2025/26 Statement of Performance Expectations (SPE), which outlines the authority’s regulatory objectives and performance measures for the coming year.
The SPE is designed to align with the FMA’s 2024-2028 Statement of Intent and will guide the regulator’s oversight of financial markets, including insurance providers.
The document sets out how the FMA will assess the effectiveness of its core functions, such as investigations, licensing, supervision, and engagement with stakeholders. It also includes financial projections and performance indicators aimed at enhancing transparency and accountability in regulatory processes.
