KiwiSaver provider Simplicity appoints ex-FMA head Rob Everett as independent chair

Rob Everett, former chief executive of the Financial Markets Authority, has joined Simplicity as independent chair.

The former chief executive of the Financial Markets Authority has joined the board of one of the country’s largest KiwiSaver and investment fund managers.

Rob Everett, who was the head of the authority for seven years, has joined Simplicity’s board of directors and will become independent chairman as of July 1. Everett replaces the departing Joy Marslin, who has been board chairman since 2016.

Everett left the FMA in 2021 to head up NZ Growth Capital Partners – an agency set up by the Government in 2002 to support early-stage investment in technology companies. He finished up there last month.

Everett said that he had a lot of admiration for what the team at Simplicity had built since its inception.

“I‘m thrilled to be joining such a high-quality board, and I’m inspired at the prospect of building out the role that Simplicity plays in serving New Zealanders,” Everett said.

Marslin said that Simplicity was delighted to have someone of Everett’s calibre join the team.

“He has significant depth and breadth of industry experience and is a proven performer in both the FMA and NZGCP roles. The board and team couldn’t be happier that he’s joined Simplicity,” Marslin said.

Simplicity managing director Sam Stubbs said he was sorry to see Marslin leave the role she had mastered after almost nine years.

As for Everett, Stubbs said that he was the number one pick for the role.

“He’s a keen supporter of the English rugby team, so we will have to do something about that, but in all other respects, he’s an awesome fit for a business that wants to be the big disruptor,” Stubbs said.

The expat Brit moved to Wellington to work with the FMA after spending much of his career at investment bank Merrill Lynch.

When he left the FMA back in 2021, Everett said he didn’t have any specific regrets in leaving the job, but that there was plenty of unfinished business.

“It will be a real shift. This was my first and probably only gig as a regulator. I spent most of my career on the other side of the table doing capital raisings and helping clients get done what they wanted to get done,” Everett said at the time.

“I’m really looking forward to, rather than telling people off all the time, a growth and contribution and help us re-tool the New Zealand economy role.”

He spent three years at the NZGCP, which is facing pressure after it was revealed Elevate, a key Crown-backed fund for venture capital investment run by the NZGCP, is almost out of capital and any chances of a top-up appear slim.

Tom Raynel is a multimedia business journalist for the Herald, covering small business, retail and tourism.