Financial Services Council (FSC) NZ CEO resigns

Resignation comes after seven years in the role

Financial Services Council (FSC) NZ CEO resigns

The Financial Services Council (FSC) NZ has announced the resignation of chief executive officer Richard Klipin (pictured) after more than seven years in the role.

While Klipin had advised the FSC Board about his decision to resign his role, he will remain in the role while the board searches for a new CEO.

The non-profit member organisation said this was to “ensure a smooth transition”.

Rob Flannagan, Chair of the FSC, thanked Klipin for his leadership of the FSC and the wider financial services sector.  

“Under Richard’s leadership over the past seven years we’ve developed from a small organisation of 29 members to one that is now has 119, and living its purpose as the clear voice of the financial services sector and growing the financial confidence and wellbeing of New Zealanders,” Flannagan said.

“Richard has led this renewal in vision, strategy and purpose; and his strength as a community builder is evidenced by the active involvement of over 540 members across the many FSC Committees, forums and working groups.”

Flannagan said Klipin is leaving the FSC in “great shape”, with a new strategic plan and a ‘Blueprint for Growth’ policy platform that “unites the sector, and has support and backing from government and regulators”.

Outgoing CEO Richard Klipin said it was a “huge decision”; however “the time is right to hand on the leadership baton”.

“It has been a privilege to serve as the FSC’s CEO. I thank everyone for opportunity to serve and lead and work with such excellent people,” said Klipin.

 “I want to acknowledge and thank the fantastic contributors across the FSC community, the Board, the CEO forums, the 119 members, the over 540 volunteers across our committees, and of course the wonderful and talented FSC team and key consultants,” he said.

“They have enriched this journey and helped the FSC become large, valued and relevant.”

The FSC Board will commence a search process shortly for the incoming CEO.

The FSC has 119 members that manage funds of more than $88.5bn and pay out claims of $2.8bn per year (life and health insurance).

Members include the major insurers in life, health, disability and income insurance, fund managers, KiwiSaver and workplace savings schemes (including restricted schemes), professional service providers, and technology providers to the financial services sector.

The move came one week after the FSC merged with Women in Super NZ.

What do you think of Richard Klipin’s leadership of the FSC and his legacy? Comment below.