FED:RBA boss thanks his right-hand man

AAP General News (Australia)
12-06-2011
FED:RBA boss thanks his right-hand man

CANBERRA, Dec 6 AAP - Reserve Bank governor Glenn Stevens has offered warm thanks to
Ric Battellino, his right hand man for the past five years.

Mr Battellino will leave the bank in February after 39 years at the central bank, five
as deputy governor.

"Ric has made an outstanding contribution to the work of the bank over his many years
of service," Mr Stevens said in a statement on Tuesday, noting especially his time as
deputy.

"He has given me unfailing personal support, providing valued counsel and perspective
over a period when the bank has seen great change and faced difficult economic and financial
conditions."

Mr Battellino will be replaced by the bank's assistant governor for economics, Philip
Lowe, whom Mr Stevens described as an exceptional economist.

"His considerable skills and knowledge will stand him and the bank in good stead as
it faces the challenges ahead," he said.

Mr Stevens also welcomed new board member Heather Ridout who replaces Graham Kraehe.

The governor said he had known the Australian Industry Group chief for many years and
was confident she would make a strong contribution to the board.

He thanked Mr Kraehe for showing balance and good judgment during his time on the board.

AAP cb/rl/afr

KEYWORD: BATTELLINO

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