Reserve Bank deputy governor Guy Debelle has announced his resignation to take up the role of chief financial officer at Fortescue Metals subsidiary, Fortescue Future Industries.
Dr Debelle will depart on 16 March after 25 years at the RBA, including more than five years as deputy governor and nine years as assistant governor for financial markets.
Commenting on his departure, Dr Debelle said he was honoured and privileged to have worked with the RBA and to have contributed to improving the welfare of Australians.
“The bank is a great institution which serves Australia well, including most recently through the policy response to COVID which has helped the country come through the crisis in a strong position,” he said.
“I have often spoken about the opportunities for business to help address climate change. This new position gives me the opportunity to make a significant contribution in this area.”
RBA governor Philip Lowe expressed his thanks to Dr Debelle for his outstanding service during his time at the central bank.
“He has made major contributions to monetary policy, to financial market operations and to the management of the bank,” said Dr Lowe.
“Guy has been a great colleague and I wish him all the best in his new position.”
Treasurer Josh Frydenberg also expressed his thanks to Dr Debelle for his outstanding contribution.
“Since his appointment as deputy governor and deputy chair of the RBA board in 2016, Dr Debelle has provided strong economic leadership and helped steer the RBA board’s response to the COVID-19 pandemic,” he said.
Mr Frydenberg added that the Morrison government would announce Dr Debelle’s replacement in due course.
Jon Bragg is a journalist for Momentum Media's Investor Daily, nestegg and ifa. He enjoys writing about a wide variety of financial topics and issues and exploring the many implications they have on all aspects of life.