Westpac economist Evans steps back, replaced by RBA’s Ellis

Vital role: A Westpac branch is seen in Wellington, New Zealand. The bank’s chief executive officer says that Evans has defined the role of a major bank chief economist in Australia. — Bloomberg

SYDNEY: Westpac Banking Corp’s Bill Evans will switch out of the chief economist role he has held for more than 30 years and be replaced by Reserve Bank of Australia (RBA) assistant governor Luci Ellis, in a significant change for both institutions.

The RBA confirmed Ellis’s departure and Westpac said she will take up her new role on Oct 9. Ellis oversaw economic forecasting at the central bank and was governor Philip Lowe’s chief economic adviser.