Reserve Bank of Australia Annual Report – 1960 Staff

Giving effect to the banking legislation of 1959 made heavy demands on the staff. Rapid growth in recent years had been met by recruitment of staff at junior levels and, although their training was intensified, there were still shortages of experienced personnel. These shortages, combined with the extra demands arising from the division of the Commonwealth Bank Service, caused some difficulties in adequately staffing sections of the Reserve Bank, particularly in the branches.

The Board takes this opportunity of conveying to the staff its sincere appreciation of the manner in which all members carried out their duties. If it had not been for the whole-hearted co-operation of the staff, the separation could not have been carried through as it was with the minimum of disturbance to the services provided to the community.

During the year the Bank continued the practice of participating in advanced training programmes, both in Australia and overseas. In this country, officers have attended the Australian Administrative Staff College and the Bankers' Administrative Staff College, while the Bank was also represented at the Third SEANZA Central Banking Course in Bombay.

In May, the Bank organised an Overseas Trade Course, attended by representatives of twelve Australian banks, and held at the Reserve Bank's Staff Training College at Kirribilli, Sydney. In all, 21 selected bank officers attended, sharing their own experience and gaining valuable first-hand information from specialists in the many aspects of overseas trade. The facilities of the College have been offered to other banks, some of which have already made arrangements to conduct courses there for members of their own staff.

Mr. W.H. Wilcock continues as Governor of the Central Bank of Malaya, and Mr. G.W. Keep as Deputy Governor of the Central Bank of Nigeria. The Bank is also helping with the initial staffing of these institutions, and three other officers have been made available for this purpose.

Mr. J.M. Garland is at present serving in Washington as Executive Director for Australia, South Africa and Viet-Nam with the International Monetary Fund and International Bank for Reconstruction and Development.

As in previous years several other officers gained valuable experience and training on the I.M.F. staff. Assistance was also given to a number of officers to pursue university studies, both in Australia and overseas.