The government has nominated Treasury deputy secretary John Lonsdale as co-deputy chair of APRA alongside Helen Rowell, who has been reappointed.
Treasurer Scott Morrison announced on Wednesday he intends to nominate John Lonsdale to fill the proposed position of deputy chair, pending the approval of the Governor-General and the passing of legislation in parliament to amend the APRA Act to allow for two deputy chairs.
If approved, Mr Lonsdale will be appointed to deputy chair for a term of five years from 1 July.
APRA chairman Wayne Byres said: “With more than three decades of experience at Treasury, John is a welcome and valuable addition to APRA’s leadership team.”
The reappointment of APRA deputy chair Ms Rowell, who has been in the role since 2015, means she will retain her position for another five years, also commencing from 1 July.
Mr Byres said a bigger executive group – which would consist of himself, APRA member Geoff Summerhayes, Ms Rowell and Mr Lonsdale, if granted approval – would mean a greater range of policy expertise at the regulator.
"Geoff and I are very pleased to be able to continue working alongside Helen as she further sharpens APRA's focus on enhancing outcomes for superannuation members,” Mr Byres said.
“The expertise, authority and judgement Helen brings to APRA will be increasingly important in the years ahead as APRA continues its superannuation reform agenda.
"The nomination of John to assist Helen, Geoff and myself is recognition of the extensive program of supervisory and policy work APRA faces across the industries we regulate.”