The WFE's Women Leaders 2025 - Kristin Brandon, Head of Policy and Regulatory Affairs, NZX Limited

Name: Kristin Brandon

Job title: Head of Policy & Regulatory Affairs

Organisation: NZX Limited

1. Brief description of nominee’s role and job. 

Kristin Brandon is the Head of Policy and Regulatory Affairs at NZX, New Zealand’s Exchange. She is responsible for the development of the rules that govern the operation of NZX’s markets, and the clearing and settlement system operated by NZX Clearing. Kristin works with external policymakers and regulators to engage pro-actively on areas of policy development and to formulate NZX’s response to broader consultation initiatives, to benefit New Zealand’s capital markets. Kristin also provides input into legislative reform that affects New Zealand’s capital markets and manages NZX’s relationships with its external regulators. Kristin is Chair of the NZX Corporate Governance Institute, an industry forum that supports the development of NZX’s corporate governance regulatory policy settings. 

2. Short bio (career highlights, education, interests/hobbies). 

Kristin has more than 25 years of experience in the financial services industry. Seventeen of those years have been spent at NZX. Kristin started her career at NZX in the exchange's regulatory arm with responsibility for monitoring and enforcing the listing rules that apply to NZX’s listed issuers. Kristin also acted as Head of Compliance for the NZX Group, during which she migrated NZX’s funds management business (Smart) to a new legislative regime, which included new licensing and disclosure requirements. Kristin commenced her current role in 2020 and has led a number of regulatory reform projects including those related to capital raising and disclosure settings for NZX’s markets, as well as matters concerning trading conduct.

Kristin has also been a member of the senior leadership team at NZX since 2014, contributing to the development of NZX’s strategy and maturation across its risk management and trend-monitoring functions. Kristin’s role involves managing relationships with key stakeholder groups within the New Zealand capital markets industry, including the New Zealand Shareholders’ Association and the New Zealand Securities Industry Association. Prior to joining NZX in 2007, Kristin worked in private practice including at Chapman Tripp in New Zealand and Dechert LLP in London. Kristin is a barrister and solicitor and holds an LLB (Hons) and BCA degree from Victoria University in Wellington. Kristin has two teenage sons and enjoys being in the outdoors, modern dance and cooking. 

3. What were your professional highlights and challenges of 2024? 

The broader market trends in 2024 were challenging for NZX and exchanges around the world. The New Zealand Government commenced a programme of legislative reform for New Zealand’s capital markets, and it has been exciting to be involved in amending settings that will lay the foundation for broader participation in New Zealand’s capital markets. 2024 was my first year of acting as Chair for the NZX Corporate Governance Institute, which has provided me with an opportunity to develop my own governance skills, while undertaking a review of NZX’s regulatory settings relating to director independence where stakeholders held competing views. 

4. Tell us about a few of your key achievements throughout your career? 

Kristin’s career highlights at NZX include: 

• Developing regulatory settings that enabled the launch of the NZX’s derivatives market, which saw the development of a successful suite of dairy derivatives contracts and advising on the subsequent migration of those contracts to SGX in 2021 through a strategic partnership arrangement. More than three million lots have been traded since December 2023. 
• Establishing a standalone private garden market for Fonterra (New Zealand’s largest company). 
• Obtaining regulatory accreditation for the NXT market designed for SME entities. 
• Developing rules to enable the launch of NZX Dark, an anonymous order book that executes orders at the mid-point of the central limit order book. This has been a successful initiative with $189 million traded since launch in early 2024.
• In 2024, undertaking regulatory reform to support the relaunch of the S&P/NZX 20 Index Futures contract, including the clearing settings for that product. 
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5. What and who inspires, and has inspired, you to achieve your professional success? 

My parents have inspired me to work hard and do my best and have always supported me. My father came from a small town in New Zealand and achieved his own professional success while giving back to the community. My mother attended university as a mature student when I was a teenager and was a role model for me in demonstrating that women can have a career as well as raise a family. In my professional life, I have been supported by both men and women, including our past General Counsel who encouraged me to accept new opportunities and believe in myself, along with our current CEO. I am also fortunate to be supported by an understanding husband, and my sons, all of whom inspire me with their care of others, willingness to accept challenges and persevere in their endeavours. 

6. How have you overcome setbacks, and what advice would you give to others dealing with setbacks? 

We all make mistakes and face challenges. I faced a situation where months of development were undertaken in relation to a project, where the scope of the work changed dramatically and there was significant time pressure to deliver a solution. In my experience, the way that you react to and remediate issues or cope with a setback is sometimes more important than doing a job perfectly. Staying calm, analysing the situation and taking a longer-term view are all important attributes. It is important to maintain your professionalism, and not to lay blame, but rather to focus your energies on a solution. People will remember more about how you manage a situation than the mistake itself. 

7. What advice do you have for other women who aspire to be in leadership positions? What is the biggest takeaway you want to leave with the reader? 

I would recommend that you assess your strengths and focus on those areas and the things that you enjoy. Consider what type of leadership position you want. Is it as a technical expert or do you enjoy managing people? Last year, it was a personal challenge stepping up to chair the NZX Corporate Governance Institute as I have only acted as a director briefly before, and the Institute includes a number of high-profile and respected governance professionals. Believe in yourself, and don’t say no to an opportunity due to a fear of failure. Asking for help is a sign of strength, people are kinder than you expect.