16 Dec 2021

Reserve Bank appoints three new executives

1:14 pm on 16 December 2021

The Reserve Bank has made three appointments to its executive leadership team, following the resignation and retirement of several members.

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Reserve Bank of New Zealand Photo: RNZ / Samuel Rillstone

Sarah Owen, Kate Kolich and Greg Smith will join the Reserve Bank as assistant governors, governor Adrian Orr said.

The appointments followed the departure of long serving members of the team, including head of supervision, Andy Wood, and head of financial system, Toby Fiennes, and the announced departures of deputy governor Geoff Bascand, and chief economist Yuong Ha.

The Reserve Bank announced plans to bolster the overall capability and capacity of the executive team.

Kolich will take up a new role of assistant governor and general manager of information, data and analytics in February.

"The role will ensure that the bank's information and data strategy, policy, and processes are future-focused and robust to support evidence-based decision-making across the bank," Orr said.

Owen will join as the central bank's first assistant governor and general manager of risk compliance and legal services in March, in addition to the roles of RBNZ's chief risk officer, chief privacy officer and anti-money laundering officer.

"Sarah is joining us from the Guardians of NZ Superannuation where she is part of their senior leadership team as general counsel and general manager of corporate strategy," Orr said.

Smith will take on the role of assistant governor and general manager of finance and commercial operations, and had been working at the central bank since July as the acting head of risk.

Smith would replace Mike Wolyncewicz, who leaves in May after 21 years with RBNZ.

"(Greg) will also oversee the framework for commercial procurement, the deposit insurance scheme, asset management, and our property and facilities strategy," Orr said.

He said recruitment for the remaining role of assistant governor and general manager of money group was progressing well, with further announcements to be made early next year.

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