Finance Minister Nicola Willis today announced the appointment of Byron Pepper as Deputy Chair of the Reserve Bank of New Zealand Board.

"Byron Pepper has made a significant contribution to the Reserve Bank Board since his appointment in 2022, and I am pleased to appoint him as Deputy Chair," Nicola Willis says.

"Mr Pepper's extensive experience in global financial markets, combined with his proven leadership, governance expertise and deep understanding of the Board's operations make him well-suited to the role.

"He brings more than 25 years' experience in investment banking and financial services, including 22 years at Goldman Sachs, with expertise spanning financial markets, insurance, corporate strategy and financial systems.

"As Chair of the Reserve Bank's Financial Policy Committee, Mr Pepper has played a key role in the Bank's financial policy decision-making and oversight of financial stability. His appointment as Deputy Chair reflects the valuable contribution he has made to the Board.

"Mr Pepper's appointment continues the Government's programme of strengthening the Reserve Bank's governance, ensuring the Board has experienced leadership to continue driving greater accountability, transparency and focus on its statutory responsibilities."

Having served on the Reserve Bank Board since 2022, Mr Pepper was reappointed for a second term commencing on 1 July 2025.

His appointment as Deputy Chair follows Rodger Finlay's appointment as Chair of the Reserve Bank Board in December 2025, which left the Deputy Chair position vacant.