THE RESERVE BANK.

Manawatu Standard, Volume LIV, Issue 131, 4 May 1934, Page 6

THE RESERVE BANK.

DEPUTY-GOVERNOR APPOINTED. MR W. F. L. WARD. Per Press Association. WELLINGTON. May 3. The Minister of Finance (Rt. Hon. J. G. Coates) announced to-day that Mr AY. F. L. Ward had been appointed by the Governor-General-in-Council as Deputy-Governor of the Reserve Bank of New Zealand as from May 1. Mr Ward was born at Marten in 1871, the second son of the late Judge Robert Ward, and a grandson of the late Rev. Robert Ward, an early missionary, who arrived in New Zealand in 1841. Mr Ward Was educated at Wanganui Collegiate School and joined the Bank of Australasia there as a boy of 16 in 1887. From there lie moved to various parts of New Zealand, ultimately becoming manager of a number of branches, and finally going back to Wanganui as manager in 1916. From there he was transferred to Wellington as manager in 1920, and was appointed inspector of the Bank of Australasia, New Zealand division, in July, 1925, holding this post until his retirement in July, 1932. His total period of service with the bank was 45 years. For the last 20 months Mr Ward has acted as” chairman of the Wellington Mortgagors’ Relief Commission. BANK DIRECTORATE. ANNOUNCEMENT SOON. WELLINGTON, May 4. The personnel of the directorate of the Reserve Bank of New Zealand will be announced at an early date by the Minister of Finance (Rt. Hon. J. G. Coates). . In accordance with legislation establishing the bank, the Governor, Mr Leslie Lefaux, and the DeputyGovernor, Mr AY. F. L. AVard, will be members of the board of directors. The Secretary of the Treasury (Mr A. D. Park) will also be a member by virtue of his office, but lie will.not be entitled to a vote at a.ny meeting of the board. Seven other directors have yet -to be appointed. Of this number, three will represent the Government and four the shareholders, two of the latter being representative of primary producing interests and two of.commerce and industry. According to tlie Act under which the bank is -constituted the deputygovernor will bold office for seven years and will thereafter be appointed by the shareholders, subject to the approval of the Governor-General-in-Council.