Investment banker Mr Peter Mason has been appointed chairman of Australia’s new Centre for International Finance and Regulation (CIFR).
Established in July this year, the CIFR is a consortium of leading Australian and international universities and research centres. Sponsored by the Commonwealth and NSW Governments and industry, the Centre has been created to assist government, regulators and industry to meet emerging challenges and opportunities in the financial sector through world-class research and educational activities.
The announcement of Mr Mason’s appointment and other board members was made today at an industry forum in Sydney by Professor Fred Hilmer, Vice-Chancellor of the University of New South Wales, which is the host institution for the Centre. Professor Hilmer has been acting as interim chairman.
Mr Mason is chairman of AMP Limited, senior adviser to UBS Investment Bank, and a non-executive director of David Jones Ltd and Singapore Telecommunication Ltd (SingTel). His appointment is effective immediately.
Also joining the board are federal Treasury Secretary Dr Martin Parkinson, chairman of the NSW Innovation Council and CEO of Morgan Stanley Australia, Mr Steven Harker, and chairman of the Australian Prudential Regulation Authority, Dr John Laker.
The board will include four nominees of the major partner institutions: for UNSW, Professor Hilmer and Professor Alec Cameron, Dean of the Australian School of Business; for Sydney University, Vice-Chancellor Dr Michael Spence; and for Macquarie University, Vice-Chancellor Professor Steven Schwartz. One further industry appointment is to be made. The interim director of the Centre, Mr John Trowbridge, will also join the board.
“I’m delighted to be able to announce such an outstanding board line-up for this important new national Centre,” Professor Hilmer said today.
“The Centre is a research, educational and policy institute with a charter to become an academic centre of excellence and an international leader in financial market developments and financial system regulation.
“I am confident that this board, under the leadership of chairman Peter Mason, will ensure that the Centre fulfils its charter and makes a significant contribution to the integrity of our financial system, locally, regionally and globally,” Professor Hilmer said.
NSW Deputy Premier and Minister for Trade and Investment Andrew Stoner opened today’s forum, which introduced the Centre to senior members of the Australian financial community.
About the Centre for International Finance and Regulation
The Federal Government has committed $12 million over four years to establish the Centre, with the NSW Government providing an additional $6 million. A further $6 million has come from corporate sources and partner institutions. The Centre will also receive $17 million of in-kind support from partner institutions and further funding is expected to be provided as the Centre develops.
The new Centre brings together some of the world’s leading experts on finance and regulation. Foundation partners are:
- Six leading Australian universities, each with prestigious international research reputations in finance, law and economics – UNSW; the University of Sydney; Macquarie University; University of Technology, Sydney; the University of Melbourne; and the Australian National University
- Two Sydney-based, internationally distinguished capital markets research and development centres – the Capital Markets Cooperative Research Centre and the Securities Industry Research Centre of Asia-Pacific
- Two of the leading finance research centres in the world, NYU’s Salomon Centre and Volatility Institute, and UCLA’s Fink Centre – through these institutions the Centre will have an active collaboration with three Nobel Laureates
- Industry participants that have already committed to support the Centre are the Commonwealth Bank of Australia, Macquarie Group and KPMG.
The Centre is located at UNSW’s CBD campus at 1 O’Connell Street in Sydney.