RESUME: GRANT SPENCERJanuary 2017

Key Capabilities:

Leading teams of skilled professionals in areas related to banking, insurance, financial markets and the economy

Seeing to the heart of complex economic and financial issues Applying sound and consistent judgement Effective communicator in written, oral and presentation forms Extensive knowledge of banking, finance and the international economy

Executive Roles:

2007-2017 Deputy Governor and Head of Financial stability, Reserve Bank of New Zealand. Responsible for the Bank’s financial markets, macro-financial and prudential supervision activities. Staff of 100 across three departments. Led the development and implementation of the Reserve Bank’s prudential policy frameworks, including banking, insurance and macro-prudential. Played a leading role in formulating and managing the Reserve Bank’s response to the global financial crisis. Strong working relationships with the industry and international regulatory community.

2004-2006 Assistant Governor and Head of Economics, Reserve Bank of NZ. Responsible for oversight of Monetary policy, exchange rate policy, economic forecasting and research. Staff of 40. Expanded the range of modeling tools used in support of the Monetary policy process and strengthened the Bank’s research capability.

2003-2004 Head of Strategy and Business Development, ANZ Bank (NZ).Responsible for overseeing the development of strategy for ANZ (NZ), key strategic initiatives, and coordination of Merger and Acquisition activities. Played a significant role in ANZ’s (Dec 2003) acquisition of the National Bank of New Zealand including development of the twin brand business model.

1998-2002 Executive Manager, Group Strategy, ANZ Bank. Responsible for development of Group and individual business strategies and leadership of M&A projects. Contributed to a major recasting of ANZ Group strategy as a portfolio of specialist financial services businesses. Led a range of M&A projects across banking, payments, insurance and funds management businesses.

1995-1998 Treasurer, ANZ Bank (NZ). Responsible for New Zealand based sales and

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Grant Spencer

trading in foreign exchange, money markets, fixed interest and derivatives. Staff of 70. Restructured and segmented the Treasury functions to align with the institutional, corporate and commercial customer segments. Substantial improvement achieved in trading and sales income.

1993-1995 Chief Manager, Financial Markets, Reserve Bank of NZ.Responsible for the Bank’s financial markets activities including domestic money market and foreign exchange operations, managing the foreign reserves and running public debt auctions. Staff of 40.

1992-1993 Special Advisor, International Monetary Fund. Responsible for analysis

and policy advice related to economic transition in the Republics of the Former Soviet Union, particularly in the areas of Monetary policy and payments. Authored a review of Interstate Monetary Relations between the former Soviet republics which shaped the Fund’s policy recommendations around Currency and Payments. Led negotiations with Belarus on a USD300m Structural Transformation Facility.

1990-1991 Alternate Executive Director, International Monetary Fund. Joint

responsibility with the Executive Director for official representation of Australia, Korea, New Zealand, Papua New Guinea, Philippines, and a number of Pacific Island States at the Executive Board of the IMF. Made regular contributions to IMF executive board meetings across a range of issues.

1976-1990 Reserve Bank of NZ. Various research and management roles. Closely involved in the post-1984 financial deregulation and development of an independent monetary policy under a floating exchange rate.

Non-executive roles:

2015-2017 Chair, OECD Committee on Financial Markets (CMF)

2014-2016 Chair, Working Group on financial Markets (WGFM), consisting of senior Financial Markets managers of the 11 EMEAP central banks

2008-2012 Deputy Chair, Monetary and Financial Stability Committee (MFSC) consisting of Deputy Governors of the 11 EMEAP central banks

2009 Member of the NZ Government Capital Markets Development Taskforce

2006-2010 Member of Advisory Board, University of Canterbury Business School

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Grant Spencer

1986-1990 Council member and Vice President, New Zealand Association of Economists

1995-1998 Council member, New Zealand Corporate Treasurers Association

1994-1997 Non-Executive Director, New Zealand Institute of Economic Research

Qualifications:

2011 London Business School, Senior Executive Program

1976 London School of Economics and Political Science, M.Sc (Distinction)

1974 Victoria University of Wellington, BA (Hons) (1st class) (Economics and Information Science)

!974 William Georgetti Scholarship (awarded in support of overseas study)

Personal Information:

Nationality: New ZealanderBorn Wellington, 1952

Family: Married to LyndaTwo daughters: Hanna and Nicolette

Interests: Global Economy and Financial Markets, History Golf, cycling, hiking

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Grant Spencer

Contact Details:

Office: Reserve Bank of New Zealand2 The TerraceWellingtonNew ZealandPh: +644 4713651 Mob: +6421 1902687e mail:grant.spencer@rbnz.govt.nz

Home: 11 Lochiel RoadKhandallahWellington 6035New Zealand Ph +644 4794587 email: spencerg@xtra.co.nz

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