Appointments to APRA’s Executive Group
The Australian Prudential Regulation Authority (APRA) has welcomed the Deputy Prime Minister and Treasurer’s announcement today of proposed appointments to APRA’s Executive Group.
The Treasurer has announced that he will be recommending to the Administrator (acting on behalf of the Governor-General) that Wayne Byres, former APRA Executive General Manager and currently Secretary General to the Basel Committee on Banking Supervision, will commence as APRA Chairman on 30 June 2014. John Laker has agreed to continue as APRA Chairman until that time.
In addition, the Treasurer will also recommend that Member Ian Laughlin extend his term at APRA by two years from 1 July 2013 and that he be appointed APRA Deputy Chairman.
The Treasurer announced that APRA’s current Deputy Chairman Ross Jones would not be seeking re-appointment and will be leaving APRA on 30 June 2013 after serving two five-year terms.
The Treasurer will announce in due course Mr Laughlin’s replacement as APRA Member.
The Treasurer’s statement can be found here.
The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the financial services industry. It oversees banks, mutuals, general insurance and reinsurance companies, life insurance, private health insurers, friendly societies, and most members of the superannuation industry. APRA currently supervises institutions holding around $9 trillion in assets for Australian depositors, policyholders and superannuation fund members.