Signatories on Reserve Bank of New Zealand bank notes
New Zealand's bank notes have been signed by the Governor of the Reserve Bank, or by the Chief Cashier, a post that existed until the early 1980s. Ten different people have signed bank notes in New Zealand.
To read a brief biography, click on the names of the signatories.
L. Lefeaux (Governor 1934-1940)
T. P. Hanna (Chief Cashier 1940-1953)
G. Wilson (Chief Cashier 1953-1956)
R. N. Fleming (Chief Cashier 1956-1967)
D. L. Wilks (Chief Cashier 1967-1973)
R. L. Knight (Chief Cashier 1973-1977)
H. R. Hardie (Chief Cashier 1977-1984)
S. T. Russell (Governor 1984-1988)
D. T. Brash (Governor 1988-2002)
A. E Bollard (Governor 2002-present)
L. Lefeaux
Leslie Lefeaux arrived in New Zealand in 1934 to become the first Governor of the Reserve Bank of New Zealand. Prior to this appointment, he had held the position of Assistant to the Governors at the Bank of England.
During his seven year term in the formative years of the Reserve Bank, Mr Lefeaux was concerned with establishing the relative responsibilities of the Government and the Reserve Bank. His signature appears on the first issue of Reserve Bank notes, because they were ordered before he left England, and at that time, he was the first appointed official of the Reserve Bank.
He completed his term of office in 1940, and remained in New Zealand for several years. He returned to England in 1946 and passed away in 1962.
T. P. Hanna
T. P. Hanna was born and educated in Palmerston North and commenced his career with the Bank of Australasia, where he worked both here in New Zealand and in Australia.
In 1934, he joined the Reserve Bank of New Zealand, and was responsible for setting up the Chief Cashier's Department. The main functions of the Chief Cashier's Department were the provision of banking services for the Government, acting as banker to the trading banks and management of the currency operations of the Bank. On the introduction of exchange control in 1938, he directed its integration into the Chief Cashier's Department.
Mr Hanna's signature appeared on the first permanent issue of Reserve Bank notes in 1940, which replaced the temporary issue of 1934 bearing Mr Lefeaux's signature.
Mr Hanna held the position of Chief Cashier for 19 years. On his retirement in 1953, he was appointed to the Board of Directors, a position he held for five years. Mr Hanna passed away on 12 March 1978.
G. Wilson
Gilbert Wilson was born in New Plymouth and educated in Auckland. He began his banking career with the National Bank in 1924 and joined the Reserve Bank eleven years later in 1935.
In 1953, Mr Wilson became the second person to hold the position of Chief Cashier, a position he held for three years before becoming Deputy Governor in 1956. In 1962 he became the first Governor to have begun his career in the Bank in a non-executive position. Mr Wilson retired in 1967 and passed away on 29 March 1994.
R. N. Fleming
Neal Fleming began his banking career with the Bank of New Zealand. However in 1934 when the Reserve Bank was becoming established, he was recruited to become one of the original staff members.
In 1956, Mr Fleming became the third Chief Cashier of the Reserve Bank and remained in this position for eleven years. In the mid 1960s, he was a member of the Decimal Currency Board and was directly responsible for the replacement of the old currency with the decimal currency. His signature appears on the first dollar note issue.
From 1967 until his retirement in 1972, Mr Fleming served as adviser to the Bank. He passed away on 22 August 1975, at sixty-four years of age.
D. L. Wilks
Dick Wilks was born in Taumarunui and educated in New Plymouth. He began his career with the Reserve Bank in 1950 after graduating from Auckland University in 1949.
During his career, Mr Wilks served as Deputy Secretary for three years and Deputy Chief Cashier for two years before being appointed Chief Cashier in 1967. He held this position for six years before becoming Executive Adviser to the Bank in 1973. In 1977, Mr Wilks was appointed Deputy Governor, and in February 1982 was appointed Governor of the Reserve Bank. Mr Wilks passed away on 18 December 1985.
R. L. Knight
Lindsay Knight was born and educated in Wellington and began his career with the Reserve Bank in 1948. In 1965, Mr Knight was appointed Deputy Chief Economist and in 1967, became Deputy Chief Cashier.
From 1970-1973, he represented Australia, New Zealand and South Africa as Executive Director at the International Bank for Reconstruction and Development (World Bank) in Washington, DC. On his return to New Zealand in 1973, Mr Knight was appointed Chief Cashier, a position he held for four years before becoming Assistant Governor in 1977. From 1979-1981, Mr Knight served as Deputy Governor of the Bank of Papua New Guinea under the International Monetary Fund's technical assistance programme.
In 1981, he returned to New Zealand to his position as Assistant Governor of the Reserve Bank. Lindsay Knight was later appointed Deputy Governor before retiring from the Reserve Bank of New Zealand in late 1990. Mr Knight passed away on 6 March 2002.
H. R. Hardie
Ray Hardie was born in Temuka and educated in Waimate. Mr Hardie spent four years in the Post and Telegraph Department in Wellington before joining the Reserve Bank in 1949.
In 1977, Mr Hardie was appointed the Chief Cashier of the Reserve Bank. In the six years that he held the position, Mr Hardie was involved with the transfer of note printing from the British printer, De La Rue, to Bradbury Wilkinson and Company (NZ) Limited in Whangarei.
Mr Hardie was the last Chief Cashier whose signature appeared on the Reserve Bank of New Zealand notes before restructuring at the Reserve Bank disestablished the Chief Cashier's position. It was then decided that the Governor of the Bank would sign future note issues.
Mr Hardie retired in 1984 and continued to live in Wellington until he passed away on Friday, 2nd June 2000.
S. T. Russell
Sir Spencer Thomas Russell was appointed Governor of the Reserve Bank of New Zealand from 18 May 1984.
He previously held the position of Director and Chief Executive of the National Bank of New Zealand Limited, having spent his commercial banking career with that Bank.
Mr Russell was a past President of the Wellington Chamber of Commerce and a former member of the New Zealand Chambers of Commerce Executive Council. He also served for ten years on the National Executive of the Returned Services Association. He was President of the Bankers' Institute of New Zealand, Chairman of the Wellington Area Health Advisory Committee and a member of the Wellington Diocesan Board of Trustees. He was also a Trustee of the New Zealand Institute of Economic Research (Inc.).
Sir Spencer Russell retired in 1988 and passed away in July 1995.
D. T. Brash
Dr. Donald Brash was born in Wanganui and educated in Christchurch completing a Bachelor of Arts Degree from Canterbury University with a double major in economics and history.
While working for the Reserve Bank of New Zealand in 1962, Dr. Brash obtained his Master of Arts degree with first class honours, majoring in economics. His thesis was on New Zealand's external debt servicing capacity.
Subsequently, Dr. Brash obtained a PhD in economics from the Australian National University.
Dr. Brash had previously served with the Reserve Bank of New Zealand (1961-62); the World Bank (1966-71), Broadbank/Fletcher Challenge (1971-82), the New Zealand Kiwifruit Authority (1982-1986), and was Managing Director of the Trust Bank group (1986-88) before being appointed as Governor of the Reserve Bank of New Zealand in 1988.
Dr. Brash resigned from his position as Governor on 26th April 2002 to stand as a list candidate for Member of Parliament in the General Election held on 27th July 2002.
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A. E. Bollard
Dr. Alan Bollard was appointed as Governor of the Reserve Bank of New Zealand in September 2002.
Dr. Bollard's previous positions include Secretary to the Treasury (1998- 2002); Chairman of the New Zealand Commerce Commission (1994-98); Director of the New Zealand Institute of Economic Research (1987-94).
Dr. Bollard has also worked as an economist in a variety of positions in the United Kingdom and in the South Pacific.
Dr. Bollard has written a number of books on the New Zealand economy, has produced a computer simulation game called Oikonomos where one plays at being the Minister of Finance, and has helped rebuild the famous Phillips hydraulic economic simulation model "the Moniac".
