Reserve Bank formalises senior leadership call shaping bank supervision and lending oversight.
The Reserve Bank has confirmed Angus McGregor (pictured) as its permanent assistant governor financial stability, formalising a role he has held on an acting basis since March.
A familiar face steps into a permanent role
Governor Anna Breman announced the appointment following what the Reserve Bank described as an extensive recruitment process. McGregor, who joined the RBNZ in 2022, will formally take up the substantive position later this month, and the bank has indicated recruitment will begin shortly for the role he vacates.
Breman said the appointment reflected McGregor's track record through a turbulent period for the sector.
"Angus has demonstrated strong leadership and has played an important role in maintaining confidence in New Zealand's financial system during a period of significant change," she said in a media release.
A career built across regulation, risk, and enforcement
Before joining the Reserve Bank, McGregor spent close to two decades in senior legal and risk roles at global law firms Linklaters, Freshfields Bruckhaus Deringer, and Clifford Chance, including running Linklaters' global legal and risk function across four countries. Since then, he has led the RBNZ's specialist supervision directorate before stepping into the acting assistant governor role, overseeing prudential regulation across deposit-taking, insurance, and financial market infrastructure.
The Reserve Bank noted McGregor "has built trusted relationships across the financial sector, both domestically and internationally" and "has also led significant enforcement work, including successful outcomes in recent court action."
What it means for the mortgage market
That enforcement record sits within a broader remit: the financial stability group McGregor now permanently leads sets the direction for system-wide risk assessment and supervision of banks and non-bank deposit takers — settings that flow directly into lending standards, capital requirements, and borrowing capacity across the mortgage market.
Breman added that McGregor's "deep knowledge of New Zealand's financial sector, combined with extensive supervisory experience, positions him well to lead our financial stability function."
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