APRA has welcomed the Treasurer Scott Morrison’s appointments of a new deputy chair and member for the prudential regulator.
Helen Rowell, who has been an APRA member since July 2013, has been appointed deputy chair for the remainder of her five-year term. Ms Rowell will continue to have primary responsibility within APRA for all superannuation-related matters.
Meanwhile, Geoff Summerhayes has been appointed as an APRA member for a term of five years from 1 January 2016.
Mr Summerhayes was most recently the CEO of Suncorp Group’s life insurance and income protection business, Suncorp Life – a position he has held since 2008. With more than 20 years’ experience in property and financial services, he has also worked for Lend Lease, MLC and NAB.
Mr Summerhayes will have a particular focus on APRA’s activities in relation to general, life and private health insurance, according to the regulator.
The Treasurer said the appointments continue the high level of skills and experience available to APRA, to help ensure that the key sectors of Australia’s economy are effectively regulated.
“Mrs Rowell’s appointment also continues the government’s strong record of identifying capable women for senior public sector roles,” he added.
APRA chairman Wayne Byres said Mr Summerhayes will bring a great deal of commercial acumen and experience to his new role.
“I look forward to working with Helen and Geoff to ensure APRA continues to perform its responsibilities effectively and efficiently for the benefit of the Australian community,” he said.