Bank of England’s Andrew Hauser was named RBA Deputy Head.
Australia recently named Andrew Hauser from the Bank of England as the new deputy governor of the Reserve Bank of Australia (RBA). This appointment comes following Michele Bullock’s transition to the top role a couple of months ago, leaving the deputy governor position vacant.
Hauser, who has served as the executive director of markets at the Bank of England, is set to commence his five-year term prior to the RBA’s initial board meeting next year.
Expressing his gratitude, Hauser, a British national with 30 years of experience at the Bank of England, stated, “I am humbled and deeply honored to be asked to serve as the RBA’s next Deputy Governor.”
He looks forward to collaborating closely with Bullock, her senior team, and the proficient RBA staff to fulfill the institution’s duties and implement recommendations outlined in the RBA Review.
Hauser holds a master’s degree in economics from the London School of Economics and an undergraduate degree from Oxford University.
The selection of an external candidate for a top role at the RBA is part of the government’s ongoing efforts to revamp the institution, aligning with recommendations from a recent comprehensive review.
Additionally, the government plans to introduce legislation aiming to establish a governance board, setting the stage for further transformations in the upcoming year.
Treasurer Jim Chalmers highlighted Hauser’s appointment as a step towards ensuring that Australia has a highly efficient central bank capable of addressing present and future economic challenges.
Chalmers emphasized, “His appointment strikes the right balance between providing deep central banking experience and offering a fresh, global perspective to the work of the RBA.”
Michele Bullock, now leading the RBA, welcomed Hauser’s appointment, stating, “I warmly congratulate Andrew on his appointment. He has great experience and will bring a welcome external perspective to the Bank and the Reserve Bank Board.”
