MEDIA RELEASE No: 98-06 Date: 5 May 1998 Embargo: For Immediate Release

SENIOR STAFF MOVEMENTS

Dr Philip Lowe, currently Head of Economic Research, has been appointed to the new position of Head of System Stability. Dr Lowe joined the Bank in 1980 and has worked in International Department, as well as holding senior positions in both Economic Analysis and Economic Research Departments.

System Stability Department forms one of two departments in Financial System Group, which has been reorganised in line with the imminent changes in Australia's structure of financial regulation. Dr John Laker, Assistant Governor (Financial System) has recently assumed responsibility for the Group. The new department will support the Bank's broad role to protect the stability of the financial system. The other department in the Group - Payments Policy Department - will be responsible for the Bank's role in payments system policy and regulation; it is headed by Dr John Veale.

The Bank has advertised internally and externally for the position of Head of Economic Research vacated by Dr Lowe.

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