MEDIA RELEASE No: 97-21 Date: 5 December 1997 Embargo: For Immediate Release

SENIOR APPOINTMENT

The Reserve Bank announced today that Dr John Veale would become Head of its Financial System Department, succeeding Mr Neil Mackrell who has been appointed the Bank's next Chief Representative in New York. Dr Veale will take up his new responsibilities at the end of January.

Dr Veale has been Chief Manager in the Financial System Department for four years. Prior to this, he held senior positions in the Bank's economic and financial system areas, and was its Deputy Chief Representative in Europe. Before joining the Bank in 1986, Dr Veale was a Senior Lecturer in Economics, New South Wales Institute of Technology. He holds a PhD degree from the University of New South Wales and a Master of Economics degree from Macquarie University.

Financial System Department is responsible for payments system policy and monitoring of financial system trends.

Enquiries:
Manager, Information Office
Reserve Bank of Australia
SYDNEY
(02) 9551 9720