Ernest Riddle
Sir Ernest Riddle | |
|---|---|
| Born | Template:Birth date Narrabri, New South Wales, Australia |
| Died | February 28, 1939 (aged 65) |
| Occupation | Banker |
| Years active | 1889–1938 |
| Known for | Governor of the Commonwealth Bank of Australia (1927–1938) |
Sir Ernest Cooper Riddle (5 April 1873 – 28 February 1939) was a prominent Australian banker who held the position of governor at the Commonwealth Bank of Australia, which functioned as the nation's central bank from 1927 until 1938.
Early life
Ernest Riddle was born in Narrabri, New South Wales, to John Riddle, a pastoralist. His banking journey commenced in 1889 when, at 16 years old, he started as a clerk at the Narrabri branch of the Bank of Australasia. He transitioned to the Commonwealth Bank in 1915, initially overseeing its Perth branch before moving to Sydney to serve as acting manager. By 1924, he advanced to inspector and assumed responsibility for the Melbourne branch.
Governor of the Commonwealth Bank
Riddle was appointed deputy governor in 1925 and ascended to governor two years later. He guided the Commonwealth Bank throughout the entire duration of the Great Depression until his retirement in 1938. During his tenure, he advised the Australian delegation at the 1932 British Empire Economic Conference held in Ottawa and was instrumental in exchange-rate discussions in London, where he successfully resisted currency appreciation contrary to chairman Sir Robert Gibson’s viewpoint. His position, backed by the Bank of England and certain board members, significantly shaped Australia's monetary strategy. Additionally, Riddle provided testimony before the Royal Commission investigating Australia's monetary and banking systems between 1935 and 1937. Due to declining health, he stepped down on 28 February 1938.
Personal life
An accomplished sportsman, Riddle was recognized as an expert rifle shot and demonstrated proficiency in golf and tennis. He was a member of both the Royal Sydney Golf Club and the Australian Club. Holding the rank of major in the Army Reserve, he commanded a training camp in Perth during World War I. In 1899, he married Annie Bibby from Manchester, England, with whom he had two children.
In recognition of his contributions, Riddle was knighted in 1935.