Reserve Bank of Australia Annual Report – 1992 Reserve Bank Board
B.W. Fraser CHAIRMAN
Governor since 18 September, 1989
Present term expires 17 September, 1996
I.J. Macfarlane DEPUTY CHAIRMAN
Deputy Governor since 11 April, 1992
Present term expires 10 April, 1999
A.S. Cole
Secretary to the Treasury
Member since February 1991
Director,
Commonwealth Bank of Australia
Sir Peter Abeles, A.C.
Member since August 1984
Present term expires 1 August 1994
Managing Director,
TNT Limited
Joint Chairman and Joint Managing Director,
Ansett Transport Industries Limited
Director,
TNT Limited
Ansett Transport Industries Limited
Bliss Corporation Limited
Morael Pty Ltd
Union Shipping Group Ltd
Trustee and Chairman,
Australian Cancer Foundation for Medical Research
Chairman,
Business Advisory Group on Europe
J.N. Davenport, A.C., D.S.O., D.F.C.*, G.M.
Member since September 1977
Present term expires 29 September 1992
Chairman,
The Australian Gas Light Company
Volvo Australia Pty Limited
Director,
Alcoa of Australia Limited
Colinta Holdings Pty Limited
Dalgety Farmers Limited
Munich Reinsurance Company of Australia Ltd
Deputy Chairman, Board of Governors,
Heart Research Institute
Chairman, Development Council,
Heart Research Institute
R.G. Gregory, F.A.S.S.A.
Member since November 1985
Present term expires 20 November 1995
Professor of Economics, and
Head, Division of Economics & Politics Research School of Social Sciences
Australian National University
Director,
Centre for Economic Policy Research
Australian National University
Member,
Australian Institute of Family Studies
A.R. Jackson, A.O.
Member since January 1991
Present term expires 28 January 1996
Managing Director and Chief Executive,
BTR PLC (UK)
Chairman,
BTR Nylex Limited Australia
Nylex (Malaysia) Berhad
China General Plastics Corporation
Member,
Business Council of Australia
W.J. Kelty
Member since July 1987
Present term expires 28 July 1997
(Reappointed with effect from 29 July 1992)
Secretary,
Australian Council of Trade Unions
Member,
Economic Planning Advisory Council
B.E. Quinn, A.O.
Member since August 1988
Resigned from the Board
with effect from 21 July 1992
Chief Executive Officer
Coles Myer Ltd (until 24 July 1992)
Member,
Business Council of Australia
Retirement of M.J. Phillips, A.M.
Mr Phillips retired on 10 April 1992 as Deputy Governor of the Bank and Deputy Chairman
of the Board.
The Board, at a meeting on 7 April 1992, passed the following resolution:
“That this Board record its recognition of Mr M.J. Phillips' distinguished and dedicated service to the Reserve Bank, in a career spanning more than 46 years. During this time, he has been in the forefront of the Bank's involvement in a number of major initiatives. In the 1960s, he was one of the main architects of a program for the development of banking and financial facilities in Papua New Guinea. From the mid 1970s and through the 1980s, he was closely involved in the development of the Bank's foreign exchange and domestic market operations. From the Bank's most senior non-statutory position, he was appointed Deputy Chairman and Deputy Governor in March 1987. As Chairman of the Board of Note Printing Australia, he directed the successful restructuring of the Bank's note printing operations as a separate business enterprise.
Throughout the latter part of his career, Mr Phillips has made a major contribution to the transition of Australian central banking practice from a regulated to a deregulated environment. He has offered wise counsel to the Board both as a senior adviser and over the last five years as Deputy Governor. He has communicated very effectively with the wider community about the Bank's functions. He commands the highest respect of the Bank's Board and staff and of industry and commerce throughout Australia.”
The Board has agreed that Mr Phillips will continue as Chairman of Note Printing Australia for the time being.