Reserve Bank Head of Financial Stability appointed

Date 26 April 2017

Reserve Bank Head of Financial Stability appointed

Deputy Governor Geoff Bascand has been appointed Head of Financial Stability and Deputy Chief Executive of the Reserve Bank, Governor Graeme Wheeler and Acting Governor-designate Grant Spencer announced today.

Mr Bascand will take up the role on 27 September, replacing Mr Spencer, who will be Acting Governor for six months from that date, after Mr Wheeler’s term as Governor ends.

Mr Bascand is currently a Deputy Governor and the Bank’s Head of Operations. Prior to joining the Bank in 2013, he was Government Statistician and Chief Executive, Statistics New Zealand. He previously worked in senior management roles in the Department of Labour and the New Zealand Treasury, and was a staff economist at the International Monetary Fund.

"Geoff brings considerable leadership experience, economics and public policy background to the role. Through his participation in the Bank’s Governing Committee, financial policy committees, and chairing of the Bank’s Assets and Liabilities Committee, Geoff is very familiar with the Bank’s work programmes and policy issues in the area of Financial Stability,” Mr Wheeler said.

A search firm has been appointed to undertake a search for the Head of Operations position, which will be at Assistant Governor level, and the role will be advertised in May. The Reserve Bank Board of Directors’ recruitment process to identify a successor to Mr Wheeler is to commence later in the year.

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