Three new members appointed to FSAC
Three new appointments have been made to the Financial Sector Advisory Council (FSAC), a non-statutory body which advises the Government on policies to strengthen the sector.
The new members replace three members who have relinquished their membership as a result of leaving financial services.
Federal Treasurer Peter Costello late yesterday announced the appointment of Adelaide Bank chief executive and group managing director Barry Fitzpatrick, IAG chief executive Michael Hawker, and Perpetual Trustees and St George Bank director Linda Nicholls.
Nicholls is also chairman of Australia Post, and a former member of the Financial System Inquiry within the Treasurer’s department.
Fitzpatrick is the longest serving chief executive officer in the Australian banking and finance sector, according to a Treasury media statement, while Hawker has previously held senior positions within both Westpac and Citibank International.
They will replace Terry Budge, former MD of the BankWest, John Trowbridge, former group executive general insurance of Suncorp-Metway, and David Kent, who is relinquishing his position as executive general manager of Axiss Australia.
Australian Stock Exchange chairman Maurice Newman is to remain on as FSAC chairman, the Treasury statement said.
The other remaining members are Capital Investment Group chairman Charles Curran; UBS Australia chief executive Chris Mackay; Macquarie Bank deputy managing director Richard Sheppard; AXA Asia Pacific group chief executive Les Owen; and CBA chief David Murray.
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