Christian Hawkesby has been appointed RBNZ deputy governor and will take over the role from Geoff Bascand, who is leaving the Reserve Bank in January after eight years.

Hawkesby, who is currently the assistant governor and general manager of economics, financial markets and banking will step into the deputy governor role when Bascand leaves.

RBNZ governor Adrian Orr says he is thrilled to have Hawkesby’s leadership, capability and experience in such a critical role.

Hawkesby will also take over leadership of the bank's financial stability functions from early 2022.

“Mr Hawkesby has a wealth of leadership experience in both the private and public sector, and he has deep experience of central banking, including financial stability," Orr says.

"He is very well-regarded and will be instrumental in continuing to shape Te Pūtea Matua, ensuring we’re delivering on our role as kaitiaki (guardian) of the financial system."

Hawkesby will also remain as a member of the Monetary Policy Committee and with Bascand's departure, a replacement committee member will be appointed in due course.

The deputy governor role is made by appointment from the Minister of Finance on the recommendation of the Reserve Bank board in line with the provisions of the RBNZ Act 1989.

Before rejoining the bank in 2019, Hawkesby was part of the team that established Harbour Asset Management and prior to that, he spent nine years at the Bank of England, where he held senior positions including private secretary to the deputy governor, chief manager of sterling markets and head of market intelligence.

He has a Master of Commerce (Hons) majoring in economics from the University of Canterbury.