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New Zealand's stock exchange (NZX) has appointed Hishaam Mirza as chief executive, effective September 14, following a global search by the board.
Auckland-based Mirza (pictured) will take over from chief financial and corporate officer Graham Law, who has served as acting chief executive since May following the departure of long-serving chief executive Mark Peterson. Law will remain in the interim role until Mirza takes over, according to an August 19 filing.
Mirza has 25 years of experience across investments, corporate development and governance. He spent 14 years at the Guardians of New Zealand Superannuation (NZ Super), most recently as acting head of direct investments that oversaw NZ$8 billion ($4.8 billion) investment across real assets, healthcare, technology and financial services.
Guardians of NZ Super is the Crown entity responsible for managing the NZ Super Fund, New Zealand’s sovereign wealth fund.
Earlier in his career, Mirza held roles at Lazard, IBM and UK-based energy groups EDF Energy and BP across London and Melbourne; he is also a director of Auckland-headquartered technology company Datacom Group.
NZX chair John McMahon said Mirza’s appointment supports the group’s growth strategy and the development of New Zealand’s capital markets. Mirza said his priorities include building greater scale, liquidity and global relevance across the exchange, Smart and NZX Wealth Technologies.
Smart, formerly known as Smartshares, is NZX’s funds management business, offering exchange-traded funds, savings scheme KiwiSaver and other managed investment products to retail and institutional investors. NZX Wealth Technologies provides investment advisers and financial services providers with technology platforms to manage, trade and administer clients’ investment assets.
H1 results
In H1 2026, ending June 30, NZX saw operating revenue rise 13.3% YoY to NZ$76.6 million, while operating earnings (EBITDA) increased 9.4% to NZ$26.3 million and net profit after tax climbed 18% to NZ$9.8 million, according to an August 20 announcement.
Smart’s funds under management reached NZ$18 billion, up 28.5%, while funds under administration at NZX Wealth Technologies rose 20.1% to NZ$21.1 billion.
NZX has expanded its operations beyond traditional exchange services as it marks 160 years since launch. In April 2026, NZX added S&P/NZX 20 Index Futures, following the March externalisation of Smart-owned QuayStreet Asset Management to support the fund manager’s growth.
Unlike the benchmark S&P/NZX 50, the underlying index concentrates on 20 of the market’s largest and most liquid companies. The futures contracts provide investors with a relatively low-cost tool to hedge or gain exposure to New Zealand equities, while supporting trading activity and market liquidity.
New Zealand’s capital market
New Zealand’s equity market is showing modest improvement against a mixed economic backdrop. The S&P/NZX 50 Gross Index had gained 2.7% in 2026 as of August 20, closing at around 13,920 points and trading close to its 52-week high.
NZX’s total market capitalisation reached NZ$243.4 billion in July, up 2.5% YoY, while cash-market trading value rose 2.8% to NZ$2.95 billion, although capital listed and raised fell 53.7% to NZ$501 million, according to the bourse’s figure.
The nation’s IPO market remains subdued, with activity during the first seven months of 2026 dominated by secondary capital raisings, fund listings and debt issuance rather than new equity floats.
New Zealand's GDP expanded 0.8% YoY in Q1 2026, according to Statistics New Zealand, while annual inflation reached a two-year high of 4.1% in Q2, above the Reserve Bank of New Zealand’s 1% to 3% target range.
The Reserve Bank raised the official cash rate from 2.25% to 2.5% in July, its first increase in three years, as higher fuel costs associated with the Middle East conflict complicated the country’s economic recovery.
A Bank of New Zealand July report forecasts at least two further increases in 2026 and a possible peak of 4% by May 2027 as policymakers seek to contain further inflation.
In another move, the Australian Securities Exchange (ASX) has appointed Anthony Attia as managing director and chief executive officer, effective September 1.
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