The Reserve Bank of New Zealand governor Graeme Wheeler said he is not seeking a second term in office after his current 5-year term ends in September 2017. The RBNZ will begin the process to pick a successor later in the year and Grant Spencer, deputy governor and head of financial stability, will serve a six-month term as acting governor while the search is conducted. Wheeler said in a statement that it was his intention, when appointed, to serve one term, and then to take on governance roles.
