Briefs: New blood at RBA, goodbye Yellow Brick Road, MoneyMe board appointment
Senior Bank of England officer Andrew Hauser will join the Reserve Bank as its deputy governor. Treasurer Jim Chalmers announced the appointment yesterday, saying Hauser would bring international expertise in economics, markets and central banking operations to the RBA. He has had a 30-year career at the BoE and is currently executive director for markets. He will take up his role at the RBA early next year. Chalmers said the appointment completes the government’s involvement in selecting the RBA’s new leadership team. Other pending appointments, such as assistant governor economics, are the responsibility of the RBA governor.
Yellow Brick Road was removed from the official list of the Australian Securities Exchange at the close of trading yesterday. The company was founded in 2006 and listed on the ASX in 2008. The stock never traded above its issue price of A$1 a share and in recent years it bumped along in a range between 5 and 10 cents. Since announcing plans to delist in September, the company has completed a buyback of small shareholdings and issued new shares to larger shareholders in a share purchase plan. It has flagged the possibility of engaging a share trading service to facilitate periodic off-market share transactions.
Former chartered accountant Susan Hansen has joined the board of consumer finance company MoneyMe. Hansen is also a director of Resimac Group, which is a substantial MoneyMe shareholder. As a result, she will not be considered an independent director. She replaces Susan Wynne, who will retire at the company’s annual general meeting on Wednesday after serving four years on the board.