Media Release Senior Appointment

The Reserve Bank today announced the appointment of Dr Bob Rankin as Assistant Governor (Business Services). The position will become vacant when Mr Geoff Board moves to head the Bank's European Representative Office in January. This role oversees three departments which are responsible for the operation of the payments system, the Bank's note issue function, and the provision of financial services to the Australian Government.

Dr Rankin holds a First Class Honours degree in Economics from the University of Sydney, and a D.Phil. in Economics from Oxford University. In a career spanning more than twenty years, he has held a number of senior positions in the Economic and Financial Markets areas of the Bank. From 1993 to 1997, he was Head of Domestic Markets Department, responsible for the Bank's domestic financial operations. Since 1997 he has been Head of International Department, responsible for the Bank's foreign exchange operations and international relations. He has played a key role in the RBA's participation in regional and global initiatives.

Dr Rankin will take up duties in the New Year. Dr Guy Debelle, presently on leave overseas, will become Head of International Department on his return in mid 2004. In the interim, Mr Mike Sinclair, Chief Manager – International Operations, will be Acting Head of the Department.