A former assistant treasurer has joined the prudential regulator’s reshaped leadership team.
Former Labor assistant treasurer David Bradbury has commenced as Australian Prudential Regulation Authority (APRA) deputy chair, taking responsibility for the regulator’s supervision of the superannuation sector.
He began his five-year term on Tuesday (1 September), completing APRA’s executive board following the Treasurer’s earlier appointment of Bradbury and long-serving APRA executive Therese McCarthy Hockey as deputy chairs.
The former federal Labor MP brings experience spanning public policy, tax reform, international regulation, and consulting to the role.
Before joining APRA, Bradbury chaired the Board of Taxation, which advises government on tax-law reform from a business perspective. He resigned from that position to take up the deputy chairmanship.
He was also previously a partner in KPMG’s consulting division for 23 months, leaving the firm in July. Further, he spent a decade in Paris as a senior official at the Organisation for Economic Co-operation and Development.
During the Gillard government, Bradbury served as assistant treasurer.
In his first comments after commencing at APRA, Bradbury said his focus would be on supporting the regulator’s mandate and the outcomes delivered by the super sector.
“I am honoured to be appointed deputy chair of APRA and pleased to commence in the role. I look forward to working with the executive board, APRA colleagues and stakeholders to support APRA’s mandate, and ensuring Australia’s superannuation sector continues to deliver sound outcomes for members,” he said.
New leadership line-up
Bradbury’s commencement finalises APRA’s revised senior leadership structure.
McCarthy Hockey, who has worked at APRA for eight years and became an APRA member in October 2022, will continue to lead the authority’s banking work.
APRA member Suzanne Smith will retain responsibility for general, life, and private health insurance.
APRA chair John Lonsdale said Bradbury’s appointment strengthened the board’s combined policy, regulatory, and sector expertise.
“I am pleased to welcome David to APRA. His deep experience in economic policy, regulation and public administration complements the Executive Board’s strong mix of prudential, financial markets, insurance, superannuation and public sector expertise,” Lonsdale said.
“Together, APRA’s Members are well placed to oversee APRA’s work to maintain the safety and resilience of Australia’s financial system for the benefit of the community.”
[Related: APRA seeks $8m Bendigo cyber-control penalty]
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