Media Release Appointment of Assistant Governor (Financial Institutions)

The Reserve Bank announced today the appointment of Mr L.J. (Les) Austin to the position of Assistant Governor (Financial Institutions). This position became vacant on the appointment recently of Mr G.J. Thompson as the second Deputy Governor of the Bank. There were thirty-one applicants for the post (four from inside the Bank); seven applicants were interviewed.

Mr Austin, aged 48, has had a distinguished career in the Bank, occupying senior positions in the economic area, in the banking and finance and the markets groups, and in the Bank's London Office. Since 1991 he has been Head of Bank Supervision Department.

With his knowledge and experience of prudential supervision issues, and his sound policy judgment and other qualities, Mr Austin is well equipped to further current efforts to enhance the Reserve Bank's supervisory arrangements.