New Zealand First is announcing today that former Chair of the Financial Markets Authority Craig Stobo will stand for New Zealand First in the Botany Electorate at the general election.
Stobo grew up in Oamaru and attended Otago University where he graduated with a BA in Economics (First Class Hons). He subsequently worked for the New Zealand Ministry of Foreign Affairs and the Australian Department of Foreign Affairs and Trade.
He moved into investment banking with DFC/ Zealcorp in Wellington and then Bankers Trust NZ in Auckland. He helped establish BT Funds Management New Zealand - growing it to $3 billion of funds under management, and was CEO from 2000 to 2004.
After attending The Wharton School in Philadelphia he commenced a career in business startups, advisory work, and governance. This included chairing the Review of Taxation of Investment Income in 2004 for Finance Minister Dr Michael Cullen, the International Funds Services Development Group in 2010 for Prime Minister John Key, and chairing the Establishment Board of the Local Government Funding Agency in 2011, which funds Council capital expenditures, is a AAA rated multi-currency issuer, and has grown to $26 billion.
He is also a founding director of the Auckland Future Fund, which is investing globally on behalf of Auckland Council.
Stobo was appointed Chair of the Financial Markets Authority in May of 2024 and left his position in May this year after offering his resignation following an investigation commissioned by MBIE.
He was found to have allegedly breached standards of 'political neutrality' when he made a personal submission to the select committee on the Treaty Principles Bill where he outlined his views on the principles of the Treaty of Waitangi, and when he queried mandatory climate reporting disclosures.
"Standing for New Zealand First offers me the opportunity to speak freely on issues of public importance" says Mr Stobo.
"I am looking forward to representing the public who also share my views and who want to hear their representatives speak frankly on key issues that affect them and their families".
Stobo brings a wealth of experience, skills, and knowledge to New Zealand First.
He is outspoken on issues that matter, he is not afraid to challenge the status quo, and he has the ability to get things done.
Stobo is a tremendous asset to the team and will be a force in parliament representing New Zealand First.
