Adrian Orr, CEO of the New Zealand Superannuation Fund for the past decade, will leave the helm of the NZ$37 billion ($25.3 billion) sovereign wealth fund in late March 2018 to become the next governor of the Reserve Bank of New Zealand.
An Auckland-based spokeswoman for NZ Super said a global search will be conducted to select Mr. Orr’s successor.
Mr. Orr will take up his new responsibilities as central bank governor on March 27, 2018, from Grant Spencer, the bank’s former head of financial stability. Mr. Spencer became acting governor when the five-year term of the previous governor, Graeme Wheeler, ended on Sept. 26.
Mr. Orr is returning to the central bank after more than a decade at New Zealand Super. He had been serving as deputy governor and head of financial stability at the central bank when he joined the sovereign wealth fund in February 2007.