Major bank exec joins APRA

The restructuring will come into place on 1 July 2017.

Ben Gully, current APRA chief risk officer, has been named EGM in the specialised institutions division, while Sean Carmody will be EGM in the risk and data analytics division. 

Currently, Mr Carmody leads the risk analytics and insights function at Westpac. Before joining APRA two years ago, Mr Gully previously worked at the Office of Superintendent of Financial Institutions in Canada and at the Bank of England in the financial stability area.

According to Wayne Byres, APRA chairman, the appointments will refresh APRA’s senior leadership team.

He commented: “Together with the appointments in May of four new senior executives, we have completed our organisational restructure designed to ensure APRA continues to respond to changes in the financial sector and deliver on APRA’s mission to protect the financial well-being of the Australian community.”

[Related: Housing and property ‘big issue’ on APRA’s agenda]