APRA welcomes reappointment of Helen Rowell and nomination of John Lonsdale as additional Deputy Chair
The Chairman of the Australian Prudential Regulation Authority (APRA), Wayne Byres, today welcomed the Government’s reappointment of Deputy Chair Helen Rowell and nomination of current Treasury Deputy Secretary John Lonsdale to become an additional Deputy Chair at APRA.
Mrs Rowell, who became an APRA Member in 2013 and has served as Deputy Chair since 2015, has been reappointed for a new five-year term, commencing on 1 July.
The appointment of Mr Lonsdale will also be for a five-year term and is conditional on the approval of the Governor-General and on Parliament agreeing to legislation introduced on 24 May to amend the APRA Act to allow the appointment of up to two Deputy Chairs.
Mr Lonsdale will join Mr Byres, Mrs Rowell and current APRA Member Geoff Summerhayes on APRA’s Executive Group.
Mr Byres said the expansion of APRA’s current Executive Group would add further depth and breadth of policy expertise at APRA as it delivers on its mandate to protect the financial well-being of Australian depositors, insurance policyholders and superannuation members.
"Geoff and I are very pleased to be able to continue working alongside Helen, as she further sharpens APRA's focus on enhancing outcomes for superannuation members. The expertise, authority and judgement Helen brings to APRA will be increasingly important in the years ahead as APRA continues its superannuation reform agenda.
"The nomination of John to assist Helen, Geoff and myself is recognition of the extensive program of supervisory and policy work APRA faces across the industries we regulate. With more than three decades of experience at Treasury, John is a welcome and valuable addition to APRA’s leadership team," Mr Byres said.
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, private health insurers, friendly societies, and most members of the superannuation industry. APRA currently supervises institutions holding $6 trillion in assets for Australian depositors, policyholders and superannuation fund members.