MyState chief financial officer David Harradine has resigned and will leave the banking and wealth management group at the end of October. Harradine, formerly a partner at Deloitte, joined MyState in 2015. The company said it would start a recruitment process. In the wake of revelations by investigative journalist Adele Ferguson (drawing on NAB and EY internal documents) about the failings of NAB's Kiwi subsidiary BNZ, a former chair of the bank has laid the blame on a "weak and ineffective" Reserve Bank of New Zealand. Kerry McDonald, who was BNZ chair for 12 years, says the RBNZ has been too "hands off" in its role as banking regulator. He also points to "a lack of competence of directors" on the boards of the Kiwi subsidiaries of the Big Four banks. McDonald told Stuff that the regulators should "get off their backsides" and if they don't, the Minister of Finance should act.