Reserve Bank expands senior leadership team

Other positions refreshed

Reserve Bank expands senior leadership team

The Reserve Bank of New Zealand (RBNZ or the Bank) has adjusted the structure of its senior leadership team as it prepares to meet future governance expectations under new legislation.

Last week, the RBNZ announced the appointment of current assistant governor Christian Hawkesby as its new deputy governor, replacing Geoff Bascand, who will leave the Bank in January 2022 after eight years. He will also take over leadership of financial stability functions from early 2022.

But that’s not the only change at RBNZ as it has also amended the structure of its SLT – expanding it from six to eight roles, now including “general manager of risk, compliance, and legal services” and “information and data analytics.”

Speaking about the two new roles, RBNZ Governor Adrian Orr said: “These new roles have been created to bolster the overall capability and capacity of the leadership team and to ensure these important tasks are given appropriate prominence. Other senior leadership roles have been refreshed to both accommodate the new roles and to ensure the Bank’s broader mandate is being appropriately managed.”

Read more: Reserve Bank deputy governor to depart - replacement announced

The RBNZ has reshuffled all existing permanent SLT members except for its chief financial officer (CFO) Mike Wolyncewicz, who has been with the Bank for 21 years and has chosen not to take up a role in the new structure. He will remain at the Bank until May 2022, assisting with transition and supporting a major project.

The current SLT includes:

  • Simone Robbers, assistant governor and general manager strategy, governance, and sustainability;
  • Juliet Tainui-Hernandez, assistant governor and general manager transformation, innovation people, and culture;
  • Christian Hawkesby, assistant governor, general manager money group;
  • Geoff Bascand, deputy governor and general manager financial stability group;
  • John McDermott, acting assistant governor and general manager digital solutions and security (CSO); and
  • Mike Wolyncewicz, assistant governor and general manager finance and commercial operations.

Recruitment for the general managers of the two new groups and the “money group,” “digital solutions and security,” and “finance and commercial operations” will begin shortly. Additionally, the general manager money group recruitment is to backfill Hawkesby as he takes up the deputy governor and general manager financial stability group role.

The changes will come into effect from December 2021.