The Financial Markets Authority (FMA) of New Zealand has appointed Rob Everett as its new chief executive, effective 3 February 2014.

FMA’s chairman Simon Allen said he was delighted that Mr Everett would be leading FMA through the next phase, including the rollout of the Financial Markets Conduct Act.

Allen said: "Mr Everett has a wealth of experience in law and compliance having specialised in capital markets and corporate finance. He has worked in investment banking, legal and risk management, and advised on corporate governance, compliance and other regulatory matters. Mr Everett brings to FMA a truly global perspective on financial markets and regulation and he will be a great asset to FMA."

In his prior role, Mr Everett was a director in the UK with Promontory Financial Group, a global regulatory consulting group. Before that he spent 17 years at Bank of America Merrill Lynch, in Europe, Asia and North America.

His roles included Chief Operating Officer for Europe, the Middle East & Africa (EMEA); General Counsel, Head of Legal and Compliance, EMEA; and Head of Legal for Investment Banking, EMEA and before that for Investment Banking, Asia Pacific region.

Rob Everett said he was honoured to be taking up the role of Chief Executive of FMA.

Everett added: "I look forward to building on the great progress made by Sean Hughes and his leadership team since FMA’s creation and to taking FMA to the next stage of development. I see this as a great opportunity to contribute to the development of New Zealand’s capital markets and the broader economy."

Mr Everett, aged 45, holds a Bachelor of Arts (Hons) degree and a Master of Arts in Law from Cambridge University. He was born in the UK and is married to a New Zealander. They have three children.

FMA Head of Legal Liam Mason will be Acting CEO from when Sean Hughes departs on 17 December until Mr Everett begins on 3 February.