The Australian Prudential Regulation Authority (APRA) today welcomed the Treasurer’s announcement appointing two new Deputy Chairs to APRA.

APRA Chair John Lonsdale congratulated current APRA Member Therese McCarthy Hockey and David Bradbury on their appointments as joint Deputy Chairs for a term of five years.

Ms McCarthy Hockey has been at APRA for eight years and was appointed to the Board in October 2022. She has more than 20 years’ experience in financial markets internationally and domestically through senior leadership roles in the private sector, in addition to her role at APRA overseeing banking supervision, strategy, risk and compliance.

Mr Bradbury has more than 25 years' experience across economic policy, regulation and public administration. He is currently Chair of the Board of Taxation, held senior leadership positions at the Organisation for Economic Cooperation and Development for more than a decade and was a partner in the consulting division of KPMG Australia. Mr Bradbury served as Parliamentary Secretary to the Treasurer and Assistant Treasurer between 2010 and 2013.

Mr Lonsdale said the appointment of Ms McCarthy Hockey, effective 9 July, and Mr Bradbury, effective 1 September, would ensure the APRA Board has a strong mix of skills and private and public sector experience to oversee the important work APRA does maintaining the safety and resilience of Australia’s financial system.

Mr Lonsdale will have responsibility for overseeing the superannuation industry until Mr Bradbury begins at APRA.

Once the Deputy Chairs are in place, the industry allocation responsibilities for the Members will be:

• Ms McCarthy Hockey will continue to oversee APRA’s activities in banking.
• Current Member Suzanne Smith will continue to oversee APRA’s activities in general, life and private health insurance.
• Mr Bradbury will oversee APRA’s activities in the superannuation industry.

Mr Lonsdale said the Treasurer’s appointments provide a strong and capable Board of APRA Members to protect Australian depositors, insurance policy holders and superannuation members. 

“Australia has a stable and resilient financial system which underpins the effective functioning of the economy, but the challenges in front of us are significant.

“We face a volatile external environment with risks arising across geopolitical, technological, operational and financial channels. Successfully managing these challenges will deliver better outcomes to the Australian people.

“I look forward to working with Therese, David and Suzanne to ensure APRA continues to perform its responsibilities effectively and efficiently, for the benefit of the Australian community,” Mr Lonsdale said.