APRA appoints two new Executive Directors

The Australian Prudential Regulation Authority (APRA) has appointed two new Executive Directors to fill recent vacancies.

Peter Diamond has been promoted from General Manager of Banking to Executive Director of General Insurance and Banking. He replaces Jane Magill who moved to become Executive Director of Life and Private Health Insurance and Superannuation following the departure of Carmen Beverley-Smith.

Peter Kohlhagen has been promoted from General Manager of Superannuation to Executive Director of Policy and Advice following the resignation of Sean Carmody.

A recruitment process to fill the General Manager positions left vacant by today’s appointments will commence shortly and will be conducted internally and externally.

Executive Director, General Insurance and Banking – Peter Diamond

Peter is a deeply experienced banking executive with 25 years’ involvement in both the commercial sector and in regulation.

He joined APRA in 2020 and has held several leadership positions in its banking division across entity supervision and the specialist financial risk teams.

Peter enjoyed a long career with Deutsche Bank in the UK prior to relocating to Australia. This includes in global leadership roles within the Debt Capital Markets business with responsibility for Sovereign, Supranational and Agencies, and across its Financial Institutions Group. By nature of his experience, Peter has deep technical knowledge of global capital markets and related frameworks, which support the maintenance of stability in the banking system. During his time with Deutsche Bank, Peter provided strategic advice to a wide variety of banks and insurance companies and executed a range of complex and innovative financial transactions across all the major markets. He has a broad and deep understanding of risks that entities face and manage.

Over the course of his career, Peter has also held roles with Royal Bank of Scotland and Merrill Lynch. He has a strong interest in fintech, AI and related technologies.

Executive Director of Policy and Advice – Peter Kohlhagen

Peter Kohlhagen joined APRA as a graduate in 2005. Prior to his current role, Peter has held senior leadership roles in APRA’s Superannuation, Insurance and Policy and Advice Divisions. He has had extensive international experience in various roles at the International Association of Insurance Supervisors (IAIS), including representing APRA on the Policy Development Committee and the Audit and Risk Committee. He was the immediate past Chair of the Asian Forum of Insurance Regulators. 

Peter holds bachelor's degrees in law and economics from the Australian National University and a master's degree in applied finance from Macquarie University. He is a Graduate Member of the Australian Institute of Company Directors, having graduated from their course with Order of Merit, and a Fellow of the Governance Institute of Australia.