Samantha Barrass will step down as chief executive of the Financial Markets Authority – Te Mana Tātai Hokohoko (FMA) when her five-year term ends in January 2027, with the regulator preparing to begin the search for her successor.
Barrass will not seek reappointment for another term due to emerging family needs in the United Kingdom, according to acting board chair Steven Bardy. He said Barrass informed the board at the end of last year that she was unlikely to continue beyond her current appointment.
The announcement comes as the FMA continues expanding its regulatory responsibilities, including the rollout of the Conduct of Financial Institutions regime and preparations to take on credit regulation.
“Samantha has provided strong leadership through a period of significant expansion for the FMA, including the implementation of the Conduct of Financial Institutions regime. Her regulatory experience has been invaluable as the FMA has navigated a challenging global environment and prepared to take on credit regulation,” Bardy said.
Barrass said she would remain focused on the regulator’s priorities through the remainder of her term and support the transition to a new chief executive.
“I will provide my full support to the Board and the organisation to ensure a smooth handover to the next chief executive. There is much to do as we continue to deliver against the priorities in our Financial Conduct Report,” Barrass said.
The FMA Board is expected to begin the recruitment process for Barrass’s replacement shortly. The regulator said it announced the decision now to provide enough time for recruitment and handover planning before her departure in January 2027.
