POWERED BY MOMENTUM MEDIA
Swan names new APRA head
Treasurer Wayne Swan has recommended the appointment of Wayne Byres as the next chair of the Australian Prudential Regulation Authority (APRA) to the Governor-General.
Byres is currently the Secretary General to the Basel Committee on Banking Supervision (BCBS)- the first Australian to be appointed to the role, said Swan.
The appointment of Byres was "strongly recommended" by Dr John Laker, the outgoing chair of APRA, as well as Reserve Bank of Australia (RBA) Governor Glenn Stevens and Treasury Secretary Dr Martin Parkinson, according to Swan.
"Mr Byres was central to Australia's prudential response to the global financial crisis as APRA's Executive General Manager responsible for the supervision of large complex banks, a post he held for seven years," said Swan.
Before he joined APRA when it was established in 1998, Byres served as a senior manager in the Bank Supervision Department at the RBA.
"To ensure continuity and stability at Australia's prudential regulator, Dr Laker has agreed to serve as APRA Chair until 30 June 2014 when Mr Byres' term as Secretary-General of the BCBS ends, so that Mr Byres can continue representing Australia in [his] influential global leadership role," said Swan.
Ross Jones, the deputy chairman of APRA, has indicated that he does not want to seek re-appointment, according to Swan.
"I will therefore be recommending to the Administrator that Mr Ian Laughlin be appointed as Deputy Chair for two years, from 1 July 2013. Mr Laughlin has served as a Member of APRA since 2010 and brings a wide range of private sector experience in the financial services industry to the position," said Swan.
AUTHOR
Staff Writer
Money Management staff writers are writers who contribute to the website from time to time. If you would like to discuss the content contained within this article please contact us.
Recommended for you
The $16 billion fund has teamed up with a retirement income product specialist to give its members more confidence to spend in retirement.
The super fund-owned institutional investment manager has appointed an internal candidate as its next head of operations.
The $91 billion fund has doubled down on its data security, alongside enhancing its investment strategy, with two key appointments.
The Albanese government has appointed Jim Craig as a member of the Future Fund Board of Guardians for a five‑year term.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
90.28 3 y p.a(%)
2
GAM LSA Private Shares AU I
37.08 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.44 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.12 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
28.28 3 y p.a(%)
