Stobo resigned this month.
The Government is moving quickly to try to appoint a new chairperson well ahead of the November general election. The chair will be involved in selecting Barrass’ replacement. Applications for the chairmanship close on Monday.
The FMA’s acting board chair, Steven Bardy, said: “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.”
Barrass said it had been a privilege to lead the FMA.
The FMA clarified the announcement was being made now to allow sufficient time for a robust recruitment and transition process.
Jenée Tibshraeny is the Herald’s Wellington business editor, based in the parliamentary press gallery. She specialises in government and Reserve Bank policymaking, economics and banking.
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