This information has been released following the RBNZ’s annual review.
Reshaping RBNZ Leadership
During 2021 we implemented a leadership restructure at the Reserve Bank of New Zealand - Te Pūtea Matua to strengthen our foundations, ensure we are future fit to deliver on our mandate, and meet future governance expectations under new legislation.
This reorganisation included the creation of a new eight-person Executive Leadership team (Tier 2) and a reshaped Leadership Team of 28 roles (Tier 3).
Three new executive leadership appointments are to be announced on Thursday 16 December. The process of implementing the new Leadership Team is well advanced.
Key stats
Data comparing key stats from the financial year of the Governor’s arrival (2017-18), to this financial year (2020-21).
| 2017-18 | 2018-19 | 2019-20 | 2020-21 | As December 15 – (not including vacancies) | |
|---|---|---|---|---|---|
| Total staff | 255 | 274 | 349 | 410.8 | 415.7 |
| Staff turnover (annual figure calculated over financial year) | 19.3 | 16.5 | 11.4 | 13.5 | N/A |
Leadership roles
| As at 30 June 2021 | New structure (2022) | |
|---|---|---|
| Tier 2 roles | 6 | 8 |
| Tier 3 roles | 20 | 28* |
* Note - some positions have recently been created as part of the leadership reorganisation and are yet to be recruited for, ahead of them becoming effective in March 2022. Recruitment will begin for these new roles in January 2022.
Departures
There have been three Tier 3 staff who have left RBNZ in the last six months. No Tier 2 staff have departed in this period.
In 2022 two Tier 2 staff will depart as earlier announced. Five Tier 3 staff have also signalled their departures in the coming months.
Reasons for departures include a mixture of retirements, moving for family reasons, expiration of a fixed term contract, and departures as a result of Phase 2 of the reorganisation of the RBNZ leadership team.
The three people electing to leave as a result of the phase 2 leadership review, had options for positions in the new structure, however elected not to pursue them.
Further information
- Three new executive leadership positions will be announced on Thursday 16 December.
- Phase 1 Leadership Reorganisation - Consultation and Decision documents
- Media release – RBNZ Senior Leadership Team structure (October 2021)
- Media release – RBNZ Head of Supervision and Head of Financial System Policy and Analysis departing (December 2021)
- Media release – RBNZ Chief Economist and MPC member departing after 25 years (November 2021)
- Media release – Deputy Governor Geoff Bascand departing Bank in early 2022 (September 2021)
- Media release – Three new appointments to the RBNZ Executive Leadership Team (December 2021)