Sweden’s Anna Breman Appointed Governor of Reserve Bank of New Zealand

New Zealand has appointed Dr Anna Breman, the First Deputy Governor of Sweden’s central bank, as the next Governor of the Reserve Bank of New Zealand (RBNZ). The announcement was made today by Finance Minister Nicola Willis, who described Dr Breman as a leader with a rare combination of technical expertise, global economic experience, and organizational leadership skills.

A Distinguished International Career

Dr Breman has served as Deputy Governor of Sweden’s Riksbank since 2019, where she played a pivotal role in monetary policy decisions, financial stability measures, and organizational development. Her career spans influential positions across finance, government, and academia.

She holds a PhD in Economics from the Stockholm School of Economics, and her previous roles include:

• Group Chief Economist at Swedbank, one of Sweden’s largest commercial banks.

• Work at the Swedish Ministry of Finance and the World Bank, where she contributed to global development and financial policy projects.

• Academic positions in the United States, providing a grounding in both research and teaching.

This blend of central banking, private-sector economics, and international policy experience made her stand out in a highly competitive global selection process.

A Global Search for Leadership

The appointment follows a comprehensive worldwide search conducted by the Reserve Bank Board. According to Minister Willis, the process began by identifying around 300 potential candidates from across the globe.

Candidates were assessed against five core criteria:

1. Enterprise leadership

2. Technical credentials in economics and monetary policy

3. Stakeholder engagement experience

4. Personal resilience under pressure

5. Cultural capability to operate in New Zealand’s unique environment

From this pool, a longlist of 10 domestic and international candidates was created, including individuals from academia, government, financial institutions, and central banks. Four finalists were shortlisted and interviewed by Board members in July.

The Board unanimously recommended Dr Breman, citing her global perspective, proven decision-making record, and leadership ability.

A New Era for RBNZ

Dr Breman will begin her five-year term on 1 December 2025. She will succeed Christian Hawkesby, who has been acting as interim Governor since April following the departure of former Governor Adrian Orr.

Minister Willis acknowledged Hawkesby’s contributions:

“Christian Hawkesby has done an admirable job of filling in as Governor since 8 April. He has undertaken to do all he can to prepare and support the new Governor, and I thank him for that. I wish him all the best for the future.”

Strategic Challenges Ahead

Dr Breman steps into the role at a crucial time for New Zealand’s economy. The RBNZ continues to balance price stability, financial stability, and sustainable employment objectives against the backdrop of global economic uncertainty.

Key challenges she will likely face include:

• Inflation management as global supply chains normalize and domestic demand pressures evolve.

• Housing market stability, where monetary policy has direct implications.

• Financial resilience, including how banks adapt to rising digital risks and climate-related financial impacts.

• International engagement, as New Zealand remains exposed to global financial cycles.

Her background in both emerging markets (via the World Bank) and advanced economies (through the Riksbank and Swedbank) positions her well to navigate these issues.

Looking Forward

Minister Willis said she is confident Dr Breman’s leadership will strengthen the Reserve Bank and support New Zealand’s economic resilience:

“Dr Breman comes to New Zealand with an impressive blend of technical skills and organisational leadership experience. I look forward to working with her.”

With her appointment, New Zealand joins a growing list of countries tapping global expertise to lead national central banks, underscoring the increasingly interconnected nature of modern financial systems.

Dr Breman’s arrival marks the beginning of a new chapter for the Reserve Bank, one that blends New Zealand’s domestic priorities with the insights of a seasoned international economist.