The Australian Prudential Regulation Authority (APRA) today announced a significant upgrading in its research capacity with three senior appointments to its in-house research unit. Dr Neil Esho, Professor Ian Sharpe and Dr Wilson Sy have been appointed as Head of Research, Senior Research Fellow and Principal Researcher, respectively.

The move is part of APRA’s strategy to become the leading source of applied prudential research, building on its role as the central repository of financial sector information in Australia.

The new members of APRA’s research unit will work with APRA Statistics to provide the market with information on emerging risks within Australia’s financial services sector and to establish and maintain leadership in understanding the prudential risks in deposit-taking, insurance and superannuation.

APRA’s Chairman John Laker noted that applied research is critical in helping APRA identify some of the risk issues that may emerge over coming years.

"APRA’s recent applied research has been a significant input into the strengthening of the prudential framework for housing lending and for lenders mortgage insurance, and in understanding the factors affecting the performance of superannuation funds”, he said. “The expanded team will enable us to build on this work.”

Biographies of the new appointees are attached.

BIOGRAPHIES

Dr Neil Esho
Dr Esho has been appointed as Head of Research for APRA. He has broad prudential research experience at APRA, where he has worked since 2001, and at the University of New South Wales, where he was employed from 1991 to 2001 as a Senior Lecturer in Banking and Finance. Dr Esho has published widely in the field, including articles in Journal of Risk and Insurance, Journal of Banking and Finance, and Journal of Financial Intermediation. In conjunction with the current APRA research team, Dr Esho has published significant research on the performance of Australian superannuation funds and the economics of the deposit-taking industry.

Professor Ian Sharpe
Professor Ian Sharpe has joined APRA as a Senior Research Fellow. He has been a leading financial services researcher in Australia for many years, and was formerly Dean of the Faculty of Economics and Commerce at the University of Newcastle and Head of the School of Banking and Finance at the University of New South Wales. Professor Sharpe will continue his association with the University of New South Wales as Emeritus Professor and Honorary Visiting Professor.

Dr Wilson Sy
Dr Wilson Sy is joining APRA as a Principal Researcher. Dr Sy has extensive experience in the private, government and academic sectors, including positions at the Australian National University, BT Funds Management and the Australian Securities and Investments Commission. Dr Sy has published in scientific and finance journals including Journal of Portfolio Management and Journal of the Australian Society of Securities Analysts (JASSA). Dr Sy has twice been awarded the JASSA prize for best paper of the year.


The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the financial services industry. It oversees banks, credit unions, building societies, general insurance and reinsurance companies, life insurance, friendly societies, and most members of the superannuation industry.APRA is funded largely by the industries that it supervises. It was established on 1 July 1998.APRA currently supervises institutions holding approximately $2.0 trillion in assets for 20 million Australian depositors, policyholders and superannuation fund members.