I am pleased to announce today the appointments of Mr Barry Fitzpatrick, Group Managing Director and Chief Executive Officer, Adelaide Bank; Mr Michael Hawker, Chief Executive Officer, Insurance Australia Group (IAG); and Ms Linda Nicholls, Chairman of Australian Postal Corporation and Director, Perpetual Trustees and St George Bank, to the Financial Sector Advisory Council (FSAC).
I am also pleased to announce the reappointments of Mr Maurice Newman, Chairman, Australian Stock Exchange; Mr Charles Curran, Chairman, Capital Investment Group; Mr Chris Mackay, Chief Executive Officer, UBS Australia; and Mr Richard Sheppard, Deputy Managing Director, Macquarie Bank.
The Council is a non-statutory body established in March 1998. It brings together a range of financial market participants to provide advice to the Government on policies to facilitate the growth of a strong and competitive financial sector. Members are appointed for two years in a personal capacity subject to their continued direct involvement in the financial sector.
Mr Fitzpatrick will provide great experience to the Council as the Group Managing Director and Chief Executive Officer of Adelaide Bank. Mr Fitzpatrick is the longest serving chief executive officer in the Australian banking and finance sector.
Mr Hawker brings considerable knowledge to the Council from the general insurance industry through his capacity as Chief Executive Officer of IAG and from the banking industry, having previously held senior positions with both Westpac and Citibank International PLC.
Ms Nicholls brings broad experience to the Council from across the financial sector through her current positions as Chairman of Australia Post and a director of Perpetual Trustees and St George Bank. Ms Nicholls was also a member of the Financial System Inquiry.
I look forward to the new and continuing members providing valuable contributions to the future work of the Council.
I would like to thank Mr Terry Budge, former Managing Director, Bank of Western Australia and Mr John Trowbridge, former Group Executive, General Insurance, Suncorp-Metway, for their significant contributions to FSAC since its inception in 1998. I greatly appreciate the time and effort that they committed to the Council and its advice to me. Messrs Budge and Trowbridge are no longer engaged in the areas of the financial sector for which they were appointed to FSAC and I wish the Council to have continued representation by people currently employed in those sectors.
I would also like to thank Mr David Kent, Executive General Manager, Axiss Australia for his valuable contribution to the Council since his appointment in 2003. He is moving on from Axiss Australia and, given the link between this position and his appointment to the Council, he is stepping down from the Council.
Following these appointments, the full membership of FSAC will be:
- Chairman — Mr Maurice Newman AC, Chairman of the Australian Stock Exchange;
- Mr Charles Curran AO, Director, QBE Insurance Group;
- Mr Barry Fitzpatrick, Chief Executive Officer, Adelaide Bank.
- Mr Michael Hawker, Chief Executive Officer, Insurance Australia Group;
- Mr Chris Mackay, Chief Executive Officer, UBS Australia;
- Mr David Murray, Managing Director, Commonwealth Bank of Australia;
- Ms Linda Nicholls, Chairman, Australia Post;
- Mr Les Owen, Group Chief Executive, AXA Asia Pacific Holdings; and
- Mr Richard Sheppard, Deputy Managing Director, Macquarie Bank.