Finance Minister, Nicola Willis, has thanked departing Reserve Bank Chair, Neil Quigley, for his contribution to the Bank after 15 years as a board member and nine as Chair.
Mr Quigley yesterday tendered his resignation from the board and as Board Chair with immediate effect. His resignation follows months of scrutiny over his handling of the abrupt departure of former Governor, Adrian Orr.
“Mr Quigley has decided that having overseen a number of key workstreams for the Bank, now is the appropriate time for him to hand over to a new Chair,” said Minister Willis.
“Mr Quigley departs with a new funding agreement in place, a major review of capital settings out for consultation and the recruitment of a new Governor well-advanced.
“He leaves the Bank well-positioned for the future. I thank him for his service and wish him well for the future.”
Deputy Chair, Rodger Finlay, will exercise the functions of chair until an appointment is made, the Minister confirmed.
“Mr Quigley’s departure creates a vacancy on the board which will be filled in due course,” she said.
