The Reserve Bank of New Zealand has confirmed a new Executive Leadership Team structure that takes effect from 12 May 2025, built around four Assistant Governor roles and intended to streamline senior accountability. The new structure comprises Assistant Governor Financial Stability, Assistant Governor Money Group, Assistant Governor Enterprise Services and Assistant Governor Operations. Karen Silk will continue as Assistant Governor Money Group, and Angus McGregor will remain acting Assistant Governor Financial Stability during Christian Hawkesby’s six-month term as Governor. John McDermott, currently Assistant Governor/General Manager People and Technology, has been appointed to the new role of Assistant Governor Operations, while Greg Smith (Assistant Governor/General Manager Finance and Commercial Operations) and Strategic Adviser Nigel Prince plan to leave the Reserve Bank in the near future. Consultation is underway on a proposed new structure for the Leadership Team (Directors), with a broader staff consultation on potential organisation changes expected in June.
Reserve Bank of New Zealand 2025-05-07
Reserve Bank of New Zealand adopts four-role executive leadership structure effective 12 May 2025
The Reserve Bank of New Zealand announced a new Executive Leadership Team structure effective 12 May 2025, featuring four Assistant Governor roles to enhance senior accountability. Key appointments include Karen Silk as Assistant Governor Money Group and John McDermott as Assistant Governor Operations, while consultations on further organizational changes are ongoing.