Adrian Orr

Adrian Orr
Born	Taupō, New Zealand
Occupation(s)	Economist, Public servant
Years active	1997–2025
Known for	Governor of the Reserve Bank of New Zealand
Spouse	Sue Orr

Adrian Orr is a New Zealand economist who formerly served as Governor of the Reserve Bank of New Zealand. He stepped down in March 2025, three years prior to the scheduled end of his contract.

Early life

Orr’s lineage includes Cook Island roots through his grandfather, No'oroa George, who emigrated to New Zealand during the 1930s. His father, of Irish ancestry, passed away when Orr was 13 years old. Raised in Taupō, Waikato, Orr’s family completed and managed a motel following his father’s death while he attended secondary school. His early employment encompassed roles such as plumbing, sewer pipe installation, cooking, dishwashing, and operating machinery at a local business.

He earned a Bachelor of Social Sciences degree majoring in Economics and Geography from the University of Waikato and later obtained a master's degree with distinction in development economics from the University of Leicester in England.

Career

Between 1997 and 2000, Orr held the position of chief manager within the Economics Department at the Reserve Bank of New Zealand.

His professional background includes economist roles at the OECD and the New Zealand Treasury, along with serving as Chief Economist at both the New Zealand National Bank and Westpac Bank from 2000 to 2003.

From 2003 until 2007, he acted as Deputy Governor and led Financial Stability at the Reserve Bank.

NZ Super Fund

In 2007, Orr was appointed Chief Executive Officer of the New Zealand Superannuation Fund (NZ Super Fund). He characterized this role as an ideal combination of addressing long-term intergenerational issues alongside applying rigorous economic and financial principles.

During his tenure as CEO in 2017, his remuneration approached $1 million, accompanied by a 36% salary increase that generated public debate. The raise was opposed by Prime Minister Bill English and the State Services Commission, who threatened board members’ positions over the matter. However, the board justified the pay adjustment as being consistent with market standards.

Governor of the Reserve Bank

Finance Minister Grant Robertson appointed Orr as Governor in December 2017, with his term commencing in March 2018, succeeding Graeme Wheeler. His appointment occurred alongside a government-led review of the Reserve Bank Act that proposed adding employment objectives alongside inflation targeting.

On 8 November 2022, Orr’s term was renewed for an additional five years based on government recommendations aimed at ensuring continuity and stability. This decision faced criticism from opposition parties demanding independent evaluations and expressing concerns about his leadership approach and priorities.

Orr unexpectedly resigned on 5 March 2025. Deputy Governor Christian Hawkesby assumed the role of acting Governor pending a temporary replacement. Opposition leaders underscored their expectations for tackling economic issues, while government officials recognized Orr’s leadership throughout the pandemic period.

On 11 June 2025, reports surfaced indicating that Orr’s resignation resulted from disputes with Finance Minister Willis and Reserve Bank officials regarding planned government funding reductions over five years. Despite the Reserve Bank board approving decreased funding levels, Orr opposed these cuts and chose to resign. Subsequently, Willis criticized the Reserve Bank for withholding this information until media inquiries prompted disclosures under Official Information Act requests.

Personal life

Orr is married to the author Sue Orr and together they have three children.