The Reserve Bank has made two significant changes to its senior management team.
Former Westpac economist Adrian Orr is head of the bank's new financial stability department, and will also carry the title of assistant governor.
Orr was the manager of the Reserve Bank's economics department from 1997 to 2000 and is currently chief economist and head of government business at Westpac.
Deputy governor Rod Carr has decided not to renew his contract with the bank (which expires on July 20) and instead will be taking up the position of chief executive at Jade Software.
