Senior regulator start comes as borrowers face tighter credit conditions
New Zealand’s competition and consumer watchdog will have a new chief executive from early May, with the Commerce Commission appointing senior public sector leader Suzanne Stew (pictured) to the top job.
Stew, who starts on 4 May, joins from the Ministry of Business, Innovation and Employment (MBIE), where she oversaw a wide regulatory portfolio spanning 11 regulatory systems and also served as acting chief executive. Her earlier career spans senior roles at Wrightson, TelstraClear, New Zealand Trade and Enterprise, and the Ministry of Justice, building on an engineering background with British Telecom and Sony in the UK.
Her appointment comes on the heels of the commission’s personal banking services market study, which found competition in everyday banking was limited and recommended measures such as strengthening Kiwibank and accelerating open banking to sharpen competition and improve outcomes for customers.
Commerce Commission chair John Small said Stew was chosen from a “very strong field of applicants” on the strength of her cross‑sector experience and leadership record.
“Suzanne brings a reputation for outstanding leadership, a focus on the people she works with, and the ability to navigate complex systems while consistently delivering results,” Small said in a media release. “Her roles across the private sector, Crown entities, and the public service have informed a broad perspective on the connectivity between government and the market.”
Competition and conduct remain under the microscope
Small emphasised continuity in the commission’s mandate and approach.
“The board and I are confident that under Suzanne’s leadership the commission will continue to enhance competition to help grow the economy and improve choice and value for all New Zealanders,” he said. “We look forward to supporting Suzanne as she steps into the role at an important time for the commission.”
The commission has already signalled this focus will continue, committing in a 12‑month follow‑up report to track how banks and government respond to its personal banking recommendations – from open banking progress to support for challengers and easier switching – keeping competition in home loans and other retail products firmly on the agenda.
Acknowledgement of interim leadership
Small also paid tribute to the leadership team that has steered the regulator through the transition.
“We're looking forward to welcoming Suzanne to the commission. In the meantime, I want to extend my sincere thanks to Raj Krishnan, who's done an exceptional job of leading the commission through the transition to the new chief executive. And to Anna Moodie who has supported Raj as deputy,” he said.
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