Reserve Bank of New Zealand names new deputy governor

Successor for departing senior official revealed

Reserve Bank of New Zealand names new deputy governor

Insurance News

By Gabriel Olano

The Reserve Bank of New Zealand (RBNZ) has appointed Christian Hawkesby (pictured above) as deputy governor.

Hawkesby, who is currently assistant governor and general manager of economics, financial markets and banking at the central bank, will succeed Geoff Bascand, who will leave the bank in January after an eight-year tenure. Hawkesby will take over leadership of RBNZ’s financial stability functions in early 2022 and will remain a member of the Monetary Policy Committee. Bascand’s replacement on the committee will be named in due course, RBNZ said.

“Mr Hawkesby has a wealth of leadership experience in both the private and public sector, and he has deep experience of central banking, including financial stability.,” said RBNZ governor Adrian Orr. “He is very well-regarded and will be instrumental in continuing to shape Te Pūtea Matua, ensuring we’re delivering on our role as kaitiaki (guardian) of the financial system.”

Before joining RBNZ as assistant governor in 2019, Hawkesby was executive director of Asset Management. He also spent nine years with the Bank of England, where he held senior positions, including private secretary to the deputy governor, chief manager of sterling markets and head of market intelligence.

The deputy governor role is appointed by the minister of finance, made on recommendation of the Reserve Bank’s board (which includes the Reserve Bank governor), in line with the provisions of the RBNZ Act 1989.

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