Silk's Departure Triggers RBNZ Reorg with New Assistant Governor Roles

RBNZ Assistant Governor and Monetary Policy Committee member Karen Silk is leaving her role in mid-December. This move has led to the establishment of two new assistant governor positions within the Reserve Bank.

Silk joined the Reserve Bank in 2022, bringing with her extensive experience from senior roles at Westpac in New Zealand and Australia. As Assistant Governor for Money and a member of the Official Cash Rate setting (MPC), she has made significant contributions to monetary policy, financial markets, cash, and payments.

In a statement, Silk said, 'After a long and varied career in banking and public service, this feels like the right time to begin a new chapter. I am looking forward to spending more time with family and pursuing personal interests, while continuing to contribute to New Zealand’s business and investment community.'

Reserve Bank Governor Anna Breman sees Silk's departure as an opportunity to strengthen leadership capacity and clarify accountabilities within the institution. The two new assistant governor roles will be Assistant Governor Monetary Policy and Assistant Governor Payments and Cash.