3 Mar 2021

Westpac NZ Chief Economist Dominick Stephens will take up a ten-month secondment later this month as the New Zealand Treasury’s Deputy Secretary, Chief Economic Advisor.

At Treasury, Mr Stephens will take on the Chief Economic Advisor’s responsibilities for ensuring that the Treasury’s policy advice on lifting New Zealand living standards is supported and strengthened by sound economic theory and evidence.

Mr Stephens began his career at the Reserve Bank of New Zealand before joining the Westpac NZ Economics team in 2006. He became Chief Economist in 2011, and is a respected analyst, advisor and commentator on a range of economic and market issues, from housing policy to monetary policy and climate change. His responsibilities include membership of Westpac’s Sustainability Steering Committee.

Westpac NZ General Manager of Institutional and Business Banking Simon Power says Mr Stephens will be a perfect fit in the NZ Treasury role.

“This is a great opportunity for Dominick to gain experience at the heart of government policymaking,” Mr Power says.

“We look forward to him returning to his role as Westpac NZ Chief Economist in late January next year.”

Michael Gordon will be Acting Chief Economist in Mr Stephens’ absence, having been second-in-charge of the Economics team since 2011.

“Michael brings an outstanding knowledge of the New Zealand economy and financial markets, and did a great job during a previous period as Acting Chief Economist in 2016, when Dominick was on sabbatical,” Mr Power says.

Mr Stephens’ last day at Westpac before taking up the secondment will be March 12.