Klipen has held the role for seven years after a short stint at Sovereign.

He will remain in the role while the board starts a search process for a new chief executive to ensure a smooth transition.

Rob Flannagan, FSC chairman thanked Klipen for his leadership of the FSC and the wider financial services sector. 

"Under Richard’s leadership over the past seven years we’ve developed from a small organisation of 29 members to one that is now has 119, and living its purpose as the clear voice of the financial services sector and growing the financial confidence and wellbeing of New Zealanders.

"Richard has led this renewal in vision, strategy and purpose; and his strength as a community builder is evidenced by the active involvement of over 540 members across the many FSC Committees, forums and working groups.

‘"Richard is leaving the FSC in great shape, with a new strategic plan and a ‘Blueprint for Growth’ policy platform that unites the sector, and has support and backing from government and regulators,” says Flannagan.

Klipin says “it has been a huge decision; however the time is right to hand on the leadership baton."

"I want to acknowledge and thank the fantastic contributors across the FSC community, the Board, the CEO forums, the 119 members, the over 540 volunteers across our committees, and of course the wonderful and talented FSC team and key consultants. They have enriched this journey and helped the FSC become large, valued and relevant,” says Klipin.