SYDNEY : New Zealand's central bank said on Thursday that Deputy Governor Geoff Bascand has left his role earlier than planned after breaching the bank's rules by sharing information about a leadership reorganisation with a third party.
Bascand, who was due to depart the Reserve Bank of New Zealand in early January, had agreed to bring the date forward by a week and left his role on Dec. 17, a spokesperson for the central bank said in an email. "Bascand apologised for his actions and accepts it was a lapse in judgement. The RBNZ Board and the Minister of Finance have been informed," the bank said.The RBNZ last month appointed three new assistant governors in a bid to strengthen its leadership team after several senior officials, including Bascand and Chief Economist Yuong Ha, decided to leave.
Governor Adrian Orr told a parliamentary panel in December that the staff turnover resulted from operational changes and individual choices rather than issues with his leadership.
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