Reserve Bank deputy on the move

The Reserve Bank of New Zealand will be looking for a new deputy governor when the position is vacated early next year.

Tuesday, September 7th 2021, 1:33PM

by Matthew Martin

Geoff Bascand.

The bank's deputy governor and financial stability general manager Geoff Bascand will leave the bank in early 2022 with Reserve Bank governor Adrian Orr saying he will leave with the bank’s gratitude for his contribution, and for his contribution to the wider financial system.

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

Bascand has been deputy governor since May 2013 and is also a member of the Monetary Policy Committee.

Bascand says it has been a privilege to have worked with the Reserve Bank.

“The bank is a special place that makes a massive contribution to New Zealanders' wellbeing.

"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,” Bascand says.

The governor, the Reserve Bank board and the Minister of Finance will determine the preferred option for a replacement deputy governor in line with the provisions of the RBNZ Act 1989 and RBNZ Act 2021 in due course.

Tags: Adrian Orr Geoff Bascand RBNZ recruitment