Media Release Senior Staff Appointments

The Governor, Philip Lowe, is pleased to announce the appointment of Luci Ellis to the position of Assistant Governor (Economic) and Lindsay Boulton to the position of Assistant Governor (Business Services). The Governor welcomes the wealth of experience they both bring to the Reserve Bank’s senior executive team.

Dr Ellis is currently the Head of Financial Stability Department, a position she has held since 2008. After joining the Bank in 1991, Dr Ellis has worked mainly in the Bank’s Economic Analysis and Economic Research departments. She also spent a period in Payments Policy Department and almost two years on secondment to the Bank for International Settlements in Basel. Dr Ellis has a PhD in Economics from the University of New South Wales and a first-class Bachelor of Commerce with Honours degree from the University of Melbourne.

Mr Boulton has been the Head of Banking Department since 2010. He joined the Bank in 1983 and spent most of his career in the economic and financial markets areas before taking up the position of Head of Risk Management in 2007. Mr Boulton has a Bachelor of Economics degree from the University of Western Australia and a Bachelor of Arts in Social Science degree from Curtin University of Technology. He is a graduate of the Australian Institute of Company Directors and has been a director of Note Printing Australia Limited and chair of its Audit Committee, and a director of the Australian Payments Clearing Association.

The Governor also announced several movements at department head level.

Michelle McPhee, currently the Head of Risk and Compliance Department, will become the Head of Banking Department, succeeding Mr Boulton.

Ms McPhee will be succeeded as the Head of Risk and Compliance Department by Chris Aylmer, currently the Head of Domestic Markets Department.

Dr Ellis will be succeeded as the Head of Financial Stability Department by Jonathan Kearns, most recently a former Head of Economic Analysis Department, on his return from his secondment to the Bank for International Settlements in mid 2017. Until then, David Orsmond, a Deputy Head of Financial Stability Department, will act as head of department.

The resulting vacant position of Head of Domestic Markets Department will be advertised and a selection process will consider both internal and external candidates.

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