The Treasury has established the Capital Markets Advisory Committee (CMAC) to strengthen assurance for its debt management, treasury services and export credit functions.
Treasury Deputy Secretary- Financial and Commercial Operations, Jon Grayson says the new committee will bring private sector perspectives and expertise which will benefit the Crown.
“The provision of efficient funding for the Crown, financial risk management services for agencies, and support for New Zealand exporters are of critical importance to New Zealand’s economy. Having the technical capability to guide and challenge financial strategy and risk management as well as assess overall performance, will be highly beneficial to these areas”, says Mr Grayson.
CMAC’s external members come with senior level, private sector expertise spanning public debt management, financial markets and international trade finance.
CMAC external members are:
- Burke Steel - former CEO of Euler Hermes Oceania and founder of Lumley Trade Credit Limited
- Linda Robertson - Professional Director, former Treasurer Meridian Energy
- Traci Houpapa - Company Director
- Michael Allen - Former CEO – Australian Office of Financial Management
“These functions are responsible for managing over a $100 billion dollars of the Crown’s assets and liabilities and we are fortunate to have such high calibre committee members who will bring a wealth of knowledge and experience,” said Mr Grayson.
Jon Grayson will Chair the committee and be joined by Bryan Chapple - Deputy Secretary Macroeconomics and Growth, as a second Treasury member.
CMAC met for the first time last week and the Treasury expects that the committee will meet approximately six times per year.
Communications | The Treasury