The Customer Owned Banking Association – Australia’s industry body for customer-owned banks – has today welcomed Treasurer Jim Chalmers’ announcement of new appointments to the Australian Prudential Regulation Authority (APRA).
“Customer-owned banks have enjoyed a productive working relationship with APRA. Both outgoing Chair Wayne Byres and incoming Chair John Lonsdale have driven a more proportional approach to regulation and a more facilitative approach to banking competition in APRA,” COBA CEO Mike Lawrence said.
“We welcome the appointment of John Lonsdale as APRA Chair. Mr Lonsdale’s background as APRA Deputy Chair and a senior Treasury official, including as Financial System Inquiry head, provides an immeasurable understanding of financial sector issues, and we appreciate the time Mr Lonsdale has taken over the years to listen to customer-owned banks.”
“We also congratulate Therese McCarthy Hockey on her appointment as the APRA Member for banking. Ms McCarthy Hockey spoke at COBA’s annual convention last month, and it was clear from her valuable insights that she will apply her extensive banking and leadership expertise with great impact in her new role.”
“We also congratulate Ms Margaret Cole and Ms Suzanne Smith on their new roles.”
“Australia’s customer-owned banks look forward to continuing our productive relationship with APRA to ensure our sector can continue to grow and thrive to benefit more Australians.”