Adrian Orr
Adrian Orr | |
|---|---|
| Born | 1962/1963 (age 61–62) Taupō, New Zealand |
| Alma mater | University of Leicester |
| Occupation | Governor of the Reserve Bank of New Zealand |
| Spouse | Sue Orr |
| Children | 3 |
Adrian Orr is a New Zealand economist and current Governor of the Reserve Bank of New Zealand.
Early life
Orr has Cook Island heritage through his grandfather No'oroa George, who moved to New Zealand in the 1930s. His father was of Irish descent and died when Orr was 13.[1][2]
Orr was born and raised in Taupō.[1][3] At the time his father died, he had almost finished building a motel in Taupō. The family got help from his father's workmates to complete the building, and then the family ran the motel during Orr's secondary schooling.[2] As a young man Orr worked in a range of jobs; working as a plumber, sewerage pipe layer, short order cook, dishwasher, and driving machinery for a local Taupō firm.[2]
He has a Bachelor of Social Sciences (Economics and Geography) from the University of Waikato, and a master's degree in development economics (with distinction) from the University of Leicester, England.[1][3]
Career
From 1997 to 2000 he was chief manager of the Economics Department of the Reserve Bank of New Zealand.[4]
He has worked as an economist at the OECD, the New Zealand Treasury, and was Chief Economist for the New Zealand National Bank and Westpac Bank (2000–2003).[1]
From 2003 to 2007 he was Deputy Governor and Head of Financial Stability at the Reserve Bank.[5][4]
NZ Super Fund
In 2007 he was appointed Chief Executive of the New Zealand Superannuation Fund (the NZ Super Fund).[1][6] Orr said he enjoyed the job's "beautiful mix [of] big, long-term, intergenerational challenges — and its hard-edge economics and finance."[2]
While he was Chief Executive there was a controversy in 2017 about the size of his salary (almost $1 million) and his annual pay increase of 36 per cent.[1][7] Prime Minister Bill English and the State Services Commission objected to the increase, and English said the NZ Super Fund Board members who had approved the increase could lose their positions as a result.[7] The board members' position was that Orr's salary was in line with the market.[3]
Governor of the Reserve Bank
Orr was appointed by Finance Minister Grant Robertson to be Governor in December 2017 (succeeding Graeme Wheeler, then acting Governor Grant Spencer).[5] He started in the role in March 2018.[5]
Robertson noted at the time of his appointment that the Government was reviewing the Reserve Bank Act, and Orr would be well placed to steer the Bank through the review.[4] Before his appointment the Government had signalled its intention to add maximising employment to the Reserve Banks's objectives in addition to its inflation target.[8]
Personal life
Orr is married to novelist Sue Orr, and has three children.[1]
References
- ^ a b c d e f g Dann, Liam (24 March 2018). "Who is the new Reserve Bank Governor?". NZ Herald. Retrieved 2022-06-04.
- ^ a b c d Husband, Dale (2016-09-24). "Adrian Orr: Our 31 billion dollar man". E-Tangata. Retrieved 2022-06-09.
- ^ a b c Nippert, Matt (25 February 2017). "Who is Adrian Orr, the million-dollar man?". The New Zealand Herald. Retrieved 14 September 2022.
- ^ a b c "Super Fund boss Adrian Orr named new Reserve Bank Governor". NZ Herald. 11 December 2017. Retrieved 2022-06-04.
- ^ a b c "Adrian Orr appointed Reserve Bank Governor". RNZ. 2017-12-11. Retrieved 2022-06-04.
- ^ "NZ Super Fund - Adrian Orr Appointed Chief Executive Officer (8 January)". NZ Super Fund. 2014-07-24. Retrieved 2022-06-04.
- ^ a b Sachdeva, Sam (2017-02-20). "Bill English slams NZ Super Fund for chief executive's 36 per cent pay increase". Stuff. Retrieved 2022-06-04.
- ^ "UPDATE 3-NZ gov't appoints ex-central banker Orr as new Reserve Bank governor". Reuters. 2017-12-11. Retrieved 2022-06-04.
External links
- Profile - Reserve Bank of New Zealand website
- Articles with short description
- Articles with hCards
- Living people
- 20th-century New Zealand economists
- New Zealand people of Cook Island descent
- New Zealand people of Irish descent
- University of Waikato alumni
- Alumni of the University of Leicester
- New Zealand public servants
- Year of birth missing (living people)
- People from Taupō
- 21st-century New Zealand economists