Fraser for Treasury, tasked with ‘thorough’ review

UBS banker John Fraser has been tasked with reviewing Treasury’s capabilities when he takes up the reins of the department in January. His appointment was confirmed today.

London-based finance executive John Fraser will take the reins of Treasury next month, tasked with immediately reviewing the operations of the department.

Prime Minister Tony Abbott announced today Fraser’s five-year term will commence on January 15. Former secretary Martin Parkinson left the bureaucracy last week after almost four years in the position.

Fraser (pictured) was first mooted as the man for the job, arguably the most powerful and influential in the Commonwealth public service, in October. One report suggested he needed time to tie up his personal finances.

Fraser heads the asset management group at Swiss bankers UBS. But he spent two decades in Canberra at the pointy end of Treasury.

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