Karen Chang appointed chief executive of Serious Fraud Office

Newly appointed Serious Fraud Office chief executive Karen Chang. Photo / Supplied

The Serious Fraud Office (SFO) has appointed former Financial Markets Authority (FMA) head of enforcement Karen Chang as its new chief executive.

Chang has been appointed for four years from April 26, 2022.

"I'm very pleased to appoint Ms Chang to this important role," Deputy Public Service Commissioner Helene Quilter said.

"Ms Chang is a proven leader in the field of financial crime law enforcement and has worked closely with the SFO on a number of investigations."

Quilter said Chang has a clear vision for the role of the SFO and how to position it for the future.

She will replace current SFO chief executive Julie Read, who is at the end of her term of appointment. Read was appointed in 2013 and has twice been reappointed.

Chang is currently acting general counsel at the FMA, where she leads the policy and governance, corporate legal, investigations and enforcement functions at the agency.

She previously held the role of head of enforcement at the FMA between 2017 and November 2021.

Chang has led a range of complex, high-profile criminal and civil proceedings, several of which were the first of their kind in New Zealand.

Cases have included criminal prosecutions involving investor fraud, insider trading, and Ponzi schemes and civil pecuniary proceedings for breach of capital markets trading misconduct.

Before joining the FMA, Chang prosecuted a range of trials involving fraud, theft and financial reporting offences as a Senior Crown Prosecutor at Meredith Connell.

Chang holds a Bachelor of Laws (Honours) and a Bachelor of Commerce (Honours) from the University of Auckland.

The SFO is the lead law enforcement agency responsible for addressing serious financial crime in New Zealand. The agency also works to prevent financial crime and corruption in the public sector, providing guidance and raising awareness.