RESERVE BANK.

Auckland Star, Volume LXV, Issue 6, 8 January 1934, Page 3

RESERVE BANK.

FIRST GOVERNOR.

MR. L DE FEAUX MENTIONED.

SXR M. NORMAN'S ASSISTANT.

(By Telegraph.—Own Correspondent.) WELLINGTON, this clay. An early announcement is expected regarding the appointment of the governor of the new Reserve Bank of New Zealand. This appointment, which is the moist important in the organisation of the Dominion's reserve bank system, will, when the bank is fully organised, be made by the Government on the recommendation of the bank directorate. In the preliminary organisation, however, it is the responsibility of tl;e Government, and there is reason to believe that the first governor will be Mr. Leslie de Feaux, who Jβ an Englishman holding a post in the Bank of England as one of the assistants to the governor, Sir Montagu Norman. He is 44 years of age, and is at present in England. Though several directors of the new bank will be ultimately appointed by the shareholders, the first board will be wholly nominated by the Government. The positions filled by the shareholders' representatives will be held until 1936, when they will become subject to election.