Super Fund chief executive Adrian Orr has been named the new Reserve Bank governor. Prime Minister Jacinda Ardern announced the appointment on Monday. Orr will begin on 27 March 2018, once acting governor Grant Spencer finishes his tenure. Orr has previously served as the deputy governor of the Reserve Bank. Finance Minister Grant Robertson said Orr was the first choice presented to him. "Mr. Orr is delighted to take up the role," Robertson said. There has been some controversy around Orr's compensation as the CEO of Guardians of New Zealand Superannuation. He will take a considerable pay cut switching jobs. (full story)