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Reserve Bank of New Zealand makes leadership appointments to its Money Group

By Edil Corneille

July 08, 2020

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Reserve Bank of New Zealand, RBNZThe Reserve Bank of New Zealand has announced the appointments of 2 senior leadership roles in its Money Group, thereby showing its commitment for the development of the future of physical and electronic payments. Ian Woolford has been appointed as the Reserve Bank’s Head of Money and Cash, and Steve Gordon will head a new Payment Services Department. Assistant Governor Christian Hawkesby stated that both new roles stem from growth and developments within the Reserve Bank’s Banking Department.

“Two major strategic projects – the Payment Systems Replacement, and the Future of Cash – have resulted in new responsibilities and considerable advancements in thinking and future direction for physical and electronic payments,” he says.

Te Pūtea Matua, the Reserve Bank of New Zealand, is the steward of the cash system and operates New Zealand’s payment settlement system. Dedicated oversight and leadership of these critical areas is needed so New Zealand can be at the leading edge of work on the future of cash – physical and digital.”

Ian Woolford has worked in a variety of roles at the Reserve Bank over the last 30 years where he started his career in the Economics Department and has been a Manager in the Financial Markets, Financial Stability, and Prudential areas of the Reserve Bank. Most recently he was the Manager of the Financial Policy Team in the Financial System Policy and Analysis Department where he led the work on the Review of Bank Capital. As Head of Money and Cash, he is responsible for the central bank’s existing currency functions, the significant vaulting and cash distribution projects ahead, and establishing a new policy function in this area which will focus on issues like the Future of Cash and central bank digital currency.

Steve Gordon is currently Head of the Banking Department which is responsible for currency and electronic payment systems. He has also worked as head of the Currency, Property and Security Department, leading transformative, future-focussed currency projects. Priorly, he served 4 years as Head of Risk Assessment and Assurance. Gordon previously served as Head of Risk Business Support at the Bank of New Zealand and prior to that, has worked in information technology and financial audit roles in the commercial banking sector. As Head of Payment Services, he is responsible for the leadership of the commercially-focused NZ Central Securities Depository Limited and New Zealand’s Exchange Settlement Account System.

The Money Group within the Reserve Bank comprises the departments that connect the full cycle of monetary policy, from policy formulation to implementation across the Reserve Bank’s balance sheet. These include the Money and Cash Department, Economics Department, the Financial Markets Department, Payment Services Department.

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