Media Release Senior Staff Appointments

The Reserve Bank announced today forthcoming changes of responsibilities for two of its most senior staff.

Dr Malcolm Edey will move to take up the position of Assistant Governor (Financial System), taking over from Dr Philip Lowe. Dr Edey has been Assistant Governor (Economic) for the past seven years, a role he has fulfilled with distinction. He will now head the Bank's work on financial stability and payments systems and will be Deputy Chair of the Payments System Board.^[1]

Dr Lowe, who has been in his current role for five years and overseen major development in the Bank's work on financial stability and payments reform, will take over as Assistant Governor (Economic). This position is the chief economic adviser to the Governor and the Board.

These executives bring extensive policy-related experience to their new roles, both in the Bank and in international organisations. The exchange will further broaden both their experience and the depth of expertise across a range of issues at the Bank's senior levels.

The new appointments will take effect in April 2009.

Footnote

The Payments System Board determines the Bank's Payments System Policy. The Governor is Chair of the Payments System Board. The Deputy Chair must be a member of the Reserve Bank service and is appointed by the Governor. [1]