The Treasurer Joe Hockey has announced the four-member panel for the Financial Systems Inquiry who will be given the task of reporting to government on how to make the country’s financial system more competitive and flexible.
The panel will assist chair and former Commonwealth Bank chief executive David Murray with AMP chief executive and managing director Craig Dunn and former CSL chief Brian McNamee heading the list of appointees, which also include Melbourne University Professor of Finance Kevin Davis, and Carolyn Hewson, who sits on the board of BHP Billiton, Stockland and BT Investment Management.
The Financial Services Council (FSC) director of policy and global markets Andrew Bragg said that the appointment of Dunn and Hewson reflected the importance of the wealth management industry and said that, “Craig Dunn has extensive wealth management and superannuation experience as a former CEO of AMP which is an iconic Australian financial services business with a significant presence in Asia. Craig will bring strong, contemporary market intelligence to the review given his AMP CEO role concludes on 31 December.”
Bragg also praised the appointment of Carolyn Hewson saying that, “with more than 30 years experience in the financial services sector, Carolyn Hewson AO also brings extensive experience to the panel. She was an investment banker with Schroders Australia for 14 years and a director of Westpac.”
The treasure Joe Hockey said that the promised international advisory panel would be announced early in the new-year.