Roderick Deane

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Roderick (Rod) Deane, (b. 1938), New Zealand economist, public sector reformer, and businessman.

Deane completed a doctorate in economics at Victoria University, before working at the Reserve Bank of New Zealand as Chief Economist, then Deputy Governor, during the 1970s and 1980s. During this period, Deane was frequently off-side with Prime Minister and Finance Minister Robert Muldoon, arguing for more economic liberalization, although Deane described his personal relationship with Muldoon as cordial and civil. Deane was passed over twice for the Governor’s job by Muldoon. As Deputy Governor of the Bank, Deane was an alternate executive director of the International Monetary Fund.

In 1984, with the change of Government, Deane was the prime advocate for a devaluation of the New Zealand currency, during the currency crisis of that year. Speculation on international markets that the New Zealand government would devalue the currency led to the Reserve Bank needing to defend the fixed currency in the markets, causing losses of hundreds of millions of dollars. Muldoon refused to devalue the currency; a constitutional crisis ensued, during which the incoming Labour Government directed Muldoon to devalue. During the crisis, Deane took the unprecedented step of closing the New Zealand currency to international trading while the dispute was settled.

In 1985, Deane was appointed Chairman of the State Services Commission, effectively the head of New Zealand’s public service. Along with Finance Minister Roger Douglas, Deane was the principal architect of state sector reform and corporatisation of New Zealand’s crown-owned companies.

In 1986, Deane became Chief Executive of New Zealand’s then largest state-owned enterprises, Electricorp, and was succeeded as State Services Commissioner by Don Hunn.

In 1992, following the privatization of Telecom, Deane became Chief Executive of New Zealand’s largest listed company. He held this role until his retirement in 1999, when he became the non-executive Chairman of Telecom.

Deane has also served as Chairman of ANZ National Bank, and Chairman of the National Museum, Te Papa Tongarewa, and Chairman of the National Art Gallery. In 2006, Deane announced his resignation from these positions, following the Government’s decision to force Telecom to unbundled the local loop. Deane remains Chairman of Fletcher Building.

Deane and his wife Gillian have been active patrons of the Arts for many years, and has been the Patron of the IHC.

Deane was awarded an honorary doctorate of Laws from Victoria University, and has acted as honorary Professor of Economics at that university.