RBA veteran resigns after 25 years

guy debelle Reserve Bank of Australia

11 March 2022
| By Laura Dew |
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Guy Debelle, deputy governor of the Reserve Bank of Australia, is to leave the central bank next week.

He would be taking up the position as chief financial officer at Fortescue Future Industries in June.

The move was a shock decision as governor, Phil Lowe, was also set to end his term next September after seven years and Debelle had been viewed as the successor for the position.

Debelle took up the position as deputy governor in September 2016 but had worked at the bank for 25 years in a variety of senior positions. He was also chair of the Council of Financial Regulators’ Climate Working Group, an area he would explore further in his new role.

Debelle said: “I am honoured and privileged to have worked at the Bank for the past 25 years and contributed to improving the welfare of the Australian people. 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.

“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’.”

Lowe, said: “I would like to thank Guy for his outstanding service to the RBA over many years. He has made major contributions to monetary policy, to financial market operations and to the management of the Bank. Guy has been a great colleague and I wish him all the best in his new position”.

Debelle would leave on Wednesday 16 March and a replacement deputy governor would be appointed by the Treasurer of Australia in due course. 

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