Philip Lowe, governor of the Reserve Bank of Australia, has an additional job as chair of the Committee on the Global Financial System, the Bank for International Settlements announced last night.Lowe succeeds William C Dudley, who retired from his position as President and Chief Executive Officer of the Federal Reserve Bank of New York a week ago.The BIS said Lowe will serve as chair of the CGFS for a term of three years, starting immediately.The committee "has a mandate to identify and assess potential sources of stress in global financial markets, to further the understanding of the structural underpinnings of financial markets, and to promote improvements to the functioning and stability of these markets."