Government agencies around Australia are standing up to support the campaign to end violence against women today for White Ribbon Day.
ALL THINGS P: The federal government wants to know which open data would be most useful to business, researc
We recently moved our readers to a new system. You may need to reset your password here to login.
Not a member ? Join here for free.
Forgot your password?
Home News Is UBS banker John Fraser the right man to lead Treasury?
Text size :
TAGS federal Treasury, John Fraser, Saul Eslake, Treasury, UBS
UBS banker John Fraser is set to return to Australia and replace Martin Parkinson as Treasury secretary. The Mandarin found economists approve of the pick.
A London-based executive of a scandal-plagued financial giant is set to become the nation’s next chief economist and most powerful bureaucrat. And The Mandarin could only find praise for the decision this morning.
John Fraser (pictured) heads the asset management group at Swiss bankers UBS. But he spent two decades in Canberra at the pointy end of Treasury and according to media reports will have unwanted Treasury secretary Martin Parkinson’s job by the end of the year.
The 63-year-old Monash-trained economist was Treasury’s point man in Washington under Paul Keating and become deputy secretary for a three-year stint in 1990. He then chased the obscene money in the private sector, joining the Swiss Bank Corporation in Australia which later merged with UBS.
Fraser was one of the few executives to keep his job in a post-GFC clean-out at UBS which came to the brink of collapse. He told The Australian earlier this year he was “appalled” at a series of scandals — the Swiss government had to bail out the bank after a series of missteps — and threatened to quit. “I resigned and gave my 12 months’ notice in August 2008 as I was so fed up with the whole situation,” he said.
Receive unlimited access, get all the latest public sector news and features, plus The Juice, our daily news update sent direct to your inbox.
The Mandarin is where Australia's public sector leaders discuss their work and the issues faced within modern bureaucracy. Join today to discover the latest in public administration thinking and news from our dedicated reporters, current and former agency heads and senior executives.
Jason Whittaker is managing editor of The Mandarin based in Melbourne. He has written for and edited political, business and culture publications for a decade. He spent two years as editor of sister Private Media publication Crikey.
Read Related Content
Treasury needs a Secretary with high level business experience. John Fraser has that and the policy experience and representation of Australia at the very highest levels. The absence of the private sector experience and the understanding of what will be the impacts of policy decisions has been, in my view behind many of the recent fiascos and the shambles of financial services regulation. I worked in Treasury and PM&C for 9 years from the mid 70s and John is sorely needed in the top leadership role.