RBNZ announces departure of deputy governor Geoff Bascand

RBNZ announces departure of deputy governor Geoff Bascand | Insurance Business New Zealand

RBNZ announces departure of deputy governor Geoff Bascand

Geoff Bascand (pictured above), the Reserve Bank of New Zealand’s deputy governor and general manager financial stability, will leave the central bank in January.

Bascand has served as deputy governor since May 2013, and he is also a member of the monetary policy committee. Before joining RBNZ, Bascand was government statistician and chief executive of Statistics New Zealand. He held senior management roles in the Department of Labour and the New Zealand Treasury, and was a staff economist at the International Monetary Fund.

In a statement, Reserve Bank Governor Adrian Orr said Bascand has the bank’s deep gratitude for his contributions to the organisation and the financial system.

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

According to the Reserve Bank, its governor and board, as well as the minister of finance, will determine in due course Bascand’s successor, in accordance with the RBNZ Act 1989 and RBNZ Act 2021.

“The bank is a special place that makes a massive contribution to New Zealanders’ wellbeing,” Bascand said. “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.”