Banking on Modernism: Dr H.C. (Nugget) Coombs and the Institutional Architecture of the Reserve Bank of Australia

Abstract

Australia’s central banking systems were established in 1911 as part of the functions of the Commonwealth Bank of Australia. The Bank’s central banking role and powers gradually evolved over the next four decades and in 1959 the central banking functions of the Commonwealth Bank were separated from its commercial activities with the Reserve Bank Act.On 14 January 1960, the Reserve Bank of Australia (RBA) opened for business with Dr H.C. (Nugget) Coombs as its first Governor. The establishment of the RBA as a separate entity marked a new phase in the institutional setting of the banking sector in Australia and was consolidated by the construction of eight purpose-built offices to accommodate its operations in every Australian state and territory. Through its architecture, interior design, furniture, artworks and graphic identity, the new RBA offices sought to demonstrate the changing role and functions of Australia’s new central bank, engaging with modernism, both locally and internationally.The new buildings reflected Coombs’ ideal of design as an expression of functional elegance and national character as well as his conviction that contemporary design could better reflect the changing institutional character of the banking sector and its relationship to the community it served. The new offices also reflected a post-war cultural shift within the banking industry internationally, away from the traditional architectural emphasis on strength and solidity to a focus on trust, openness and transparency. This paper will examine the vision, role and influence of Coombs in the conception of the Reserve Bank during his governorship between 1960 and 1968, focussing on the way his ideals and values were translated through its new institutional architecture in relation to both the international and local architectural context.