New APRA chair appointed by Treasury
The Treasury has appointed a new chair for the Australian Prudential Regulation Authority to replace Wayne Byres.
Deputy chair, John Lonsdale, would take over the chair role from 31 October and APRA member, Margaret Cole, would become deputy chair.
Current deputy chair, Helen Rowell, would become responsible for APRA’s activities in general insurance.
Suzanne Smith and Therese McCarthy Hockey, currently both APRA executive directors, would be appointed as new APRA Members.
Lonsdale said: “As chair, I want to ensure APRA continues to effectively protect the financial wellbeing of the Australian community with a strong and stable financial system that underpins the functioning of the economy.
“The challenges in front of us are significant – a rapidly shifting macro-economic environment, rapid technological development that challenge business models and regulation, cyber threats, insurance affordability pressures, climate change and improving the performance of our superannuation system to name a few. Successfully managing these challenges will deliver better outcomes to the Australian people.”
Commenting on his replacement, Byres said: “I am very pleased to be handing over the reins of APRA to one of Australia’s most experienced, capable and committed financial services regulators. Throughout his extensive 30-year career at Australian Treasury and over the past four years at APRA as deputy chair, John has made a significant contribution to the stability, efficiency and competitiveness of the Australian financial system”.
AUTHOR
Laura Dew
Recommended for you
The UK-based global asset manager has formed a new group executive committee to accelerate its growth strategy following the commencement of its new CEO this month.
Momentum Media has announced 26 winners across 10 individual and 15 group categories for its brand-new Australian AI Awards.
The financial services industry is currently “overwhelmed with quality and quantity of candidates”, Kaizen Recruitment explains, leading executives to face 12-month long recruitment processes.
Zenith Investment Partners has appointed an experienced research executive as its new group head of research following the departure of Bronwen Moncrieff.
