Former chair of the Financial Markets Authority Craig Stobo has been announced as New Zealand First's candidate for Botany.
Born in Oamaru, Stobo will stand in the east Auckland electorate against Prime Minister Christopher Luxon, who has comfortably held the seat since 2020.
Labelled as a "tremendous asset to the team", Stobo has a background in finance, previously helping to establish BT Funds Management NZ and the Auckland Future Fund.
He has experience in both New Zealand and Australian politics, working for the Ministry of Foreign Affairs and Department of Foreign Affairs and Trade early in his career.
Stobo resigned as the FMA chair in May after an independent investigation found his praise of the coalition Government actions and other political commentary breached neutrality rules.
"When read individually and together, his comments... read as an endorsement of the current National-led government and particular named ministers, and are critical of the former Labour-led government," Wendy Aldred KC wrote in her review.
Stobo had previously praised Prime Minister Christopher Luxon's coalition management and ministers including National's Simeon Brown, Erica Stanford and NZ First leader Winston Peters.
“The coalition continues to deliver ‘the great unwind’ of atrocious policy settings of the last government," he said in one published instance.
The comments were made under other titles Stobo held, including as an economist and as chairperson of NZ Windfarms and the Local Government Funding Agency.
However, Aldred found that distinction made no practical difference, given the prominence of his role as the chairperson of the FMA.
The investigation, dated March 23, concluded there was "just cause" for the minister to recommend Stobo's removal from the FMA board under the Crown Entities Act.
Stobo resigned before that step could be taken.
He said today he was confident his "outspoken" personality will unite Kiwis.
"I am looking forward to representing the public who also share my views and who want to hear their representatives speak frankly on key issues that affect them and their families," Stobo said.
"Standing for New Zealand First offers me the opportunity to speak freely on issues of public importance."
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