Michael Hewes, John Horner and Peter Taylor join the regulatory leadership team.
Michael Hewes.
The Financial Markets Authority – Te Mana Tātai Hokohoko – has announced it has substantially completed senior appointments as part of its organisation redesign. Three directors have been appointed to new roles in the strategic leadership cohort:
Two of these appointments are internal promotions. Hewes, director – deposit taking, insurance and advice, has been with the FMA for seven years, most recently as head of financial advice and previously manager, supervision; while Horner, director – markets, investors and reporting, joined the regulator in October 2020 as a senior solicitor and has been acting head of corporate legal, since 2022.
Michael Hewes will be responsible for the effective oversight of deposit takers, insurance companies, and financial advisers. He has deep financial services industry experience, having previously held senior roles at insurers AIA and Sovereign.
John Horner will be responsible for the effective oversight of capital markets, investment management, auditors, and financial reporting. He has extensive knowledge of corporate and financial services law. Prior to the FMA, Horner was a partner at Wellington-based boutique law firm Quigg Partners for 20 years.
FMA chief executive Samantha Barrass said: “We completed an extensive search to fill these particular director roles and I am pleased to recognise and promote internal talent. John and Michael both bring strong industry and regulatory experience to these key strategic positions. As leaders within the FMA, they bring a strong commitment to a collaborative and solutions-focused approach to working with industry. Michael and John will be responsible for leading the FMA’s frontline supervision teams to influence improved standards of conduct and disclosure across New Zealand’s financial services sector.”
Newly recruited director, specialist supervision and response Peter Taylor brings an extensive regulatory and legal background, having worked at a senior executive level in financial services and competition and economic regulation in New Zealand and overseas.
Prior to this, Taylor assisted with the establishment of The Business Banking Resolution Service (BBRS) in the UK. In 2016, he joined the Gibraltar Financial Services Commission, as director – legal, enforcement, and policy.
Taylor has been admitted as a barrister and solicitor in New Zealand, and as a solicitor in England and Wales.
Taylor will lead the specialist supervision and response area, including responsibility for functional teams comprising, specialist supervision and perimeter and response.
Barrass said: “Peter is a high-calibre appointment for the FMA, bringing broad regulatory knowledge and expertise to the complex cases we deal with, he will contribute significantly to our Response & Enforcement function.”
Hewes started his new role in February, and Horner began his role on March 1. Taylor is expected to join the FMA in April and will be based in Wellington.
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