After months of speculation, Treasurer Joe Hockey has confirmed that Mr Fraser will take on the role.
“Mr Fraser brings deep experience in both the public sector and, most recently, in the private sector,” Mr Hockey said in a statement.
“He is well placed to guide the Treasury into a new era.
“As part of undertaking the new role, Mr Fraser will be asked to conduct a thorough review of the Treasury’s resources and capabilities.”
Mr Hockey also thanked Dr Parkinson for his “outstanding contribution to the public service since being appointed to the Treasury in 1981.”
