Reserve Bank names new assistant governor

Reserve Bank names new assistant governor | Insurance Business New Zealand

Reserve Bank names new assistant governor

The Reserve Bank of New Zealand has appointed Karen Silk (pictured above) as assistant governor and general manager of economics, financial markets and banking. She will also be part of the Monetary Policy Committee.

Silk, currently a general manager at Westpac New Zealand, will take over the role vacated by Christian Hawkesby, who became deputy governor of RBNZ this month. Silk will join RBNZ in the coming months, with a start date to be confirmed in due course.

“Ms Silk has a wealth of leadership experience in banking,” said RBNZ governor Adrian Orr. “She has been a senior leader across retail and wholesale banking, wealth management, financial market infrastructure and payment systems. These are all areas where the RBNZ has significant projects underway. Karen is steeped in climate change and risk management, including co-chair of the Sustainable Finance Forum. She is a respected leader in the banking sector.”

RBNZ recently appointed three assistant governors – Sarah Owen, Kate Kolich and Greg Smith. With Silk’s appointment, RBNZ said that all eight executive leadership roles are now filled. Five of them are existing senior staff at the bank.

RBNZ said that recruitment for a new director of economics and chief economist is progressing well. The incumbent, Yuong Ha, will leave RBNZ in March.

Nigel Prince has been appointed to a newly created fixed-term position of strategic advisor to the governor. Prince, who will be a member of the executive leadership team, has been RBNZ’s business services improvement programme director for the last year and brings significant leadership and change experience from the public and private sectors.