The Reserve Bank has filled another gap in its senior management team with the appointment of Karen Silk from Westpac to head its economics, financial markets and banking operations.
Karen Silk will also become one of four RBNZ members of the monetary policy committee, Photo: Supplied
Silk is currently a general manager at Westpac New Zealand and replaces Christian Hawkesby who has moved up to deputy governor following the departure of Geoff Bascand.
RBNZ Governor Adrian Orr said Silk had a wealth of experience in banking.
"She has been a senior leader across retail and wholesale banking, wealth management, financial market infrastructure and payment systems. These are all areas where the RBNZ has significant projects underway."
"Karen is steeped in climate change and risk management, including co-chair of the Sustainable Finance Forum," he said.
Silk's appointment helps to fill the RBNZ's senior ranks after a raft of resignations and retirements through last year including Bascand, who left at the end of last year, and the looming departure of chief economist Yuong Ha.
Silk will also become one of four RBNZ members of the monetary policy committee, which sets the official cash rate (OCR) and decides other measures to meet its inflation and employment targets.
Orr said the search for a replacement for Yuong Ha was "progressing well".