RBNZ deputy governor Geoff Bascand announces departure

He has served in the role since May 2013

RBNZ deputy governor Geoff Bascand announces departure

The Reserve Bank of New Zealand (RBNZ) deputy governor and general manager financial stability Geoff Bascand has confirmed that he will leave the central bank in January 2022.

Bascand has been the deputy governor at the RBNZ since May 2013. He has also been a member of the Monetary Policy Committee.

Bascand said in a statement that it had been a privilege to have worked with the central bank.

“The bank is a special place that makes a massive contribution to New Zealanders’ wellbeing. I have had extraordinary opportunities to participate in a huge range of important initiatives and work with many wonderful colleagues, but I want to make more time for other interests in my life,” Bascand said.

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RBNZ Governor Adrian Orr commented that the RBNZ is grateful for Bascand’s contribution to the central bank and the wider financial system over the years.

“Geoff has made an incredible contribution to the bank, and we’re indebted to his leadership, guidance and wisdom,” Orr said in a statement.

The RBNZ governor, the RBNZ board, and the Minister of Finance will determine in due course the preferred option for a replacement deputy governor, in line with the provisions of the RBNZ Act 1989 and RBNZ Act 2021.