Australian regulator names new chair

A new Deputy Chair and two new APRA members were also announced.

The Australian Prudential Regulation Authority (APRA) has named Deputy Chair John Londsale as the new APRA Chair, taking over from Wayne Byres.

Lonsdale said that under his leadership, APRA will remain focused on fulfilling its mandate and ensuring that Australia has a strong and resilient financial system. 

“As Chair, I want to ensure APRA continues to effectively protect the financial well-being of the Australian community with a strong and stable financial system that underpins the functioning of the economy.

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“The challenges in front of us are significant – a rapidly shifting macro-economic environment, a rapid technological development that challenges business models and regulation, cyber threats, insurance affordability pressures, climate change and improving the performance of our superannuation system to name a few. Successfully managing these challenges will deliver better outcomes to the Australian people,” Lonsdale said.

Meanwhile, APRA member Margaret Cole will now be taking on the role of Deputy Chair. Suzanne Smith and Therese McCarthy Hockey, both APRA Executive Directors, will now be appointed as new APRA Members.

Cole will continue to oversee APRA’s activities in the superannuation industry;  Current Deputy Chair Helen Rowell will be responsible for APRA’s activities in general insurance;  Smith will be responsible for APRA’s activities in life insurance and private health insurance, and McCarthy Hockey will oversee APRA’s activities in banking.