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Finance Minister Bill English has appointed former Bell Gully partner Jonathan Ross and US-based venture capitalist Bridget Liddell to the board of the Reserve Bank.
Mr Ross joins the board today, replacing academic Chris Eichbaum, whose five-year tenure ended on July 31.
Ms Liddell (ex-wife of former Microsoft and GM CEO Chris Liddell) will join the board from October, replacing outgoing chairman Arthur Grimes. Rod Carr was elected chair by the board last month.
Reserve Bank directors are appointed by the finance minister for five-year terms. The board then elect the chair and deputy for one-year terms.
The board monitors the performance of the governor and is tasked with assessing whether the quarterly monetary policy statements meet the government's policy target agreements. It also monitors the six-monthly financial stability reports.