Philip Chronican has been appointed to the advisory board for a two-year term. The foundation brings together government and business to “further build and strengthen our bilateral engagement with China”.
“Mr Chronican is a senior business leader with extensive experience across Australia’s finance sector and brings a deep understanding of Australia’s economic, trade and investment relationship with the Indo-Pacific region, including China,” said Minister for Foreign Affairs Marise Payne.
“He has more than 38 years’ experience in banking and finance in Australia and New Zealand…I look forward to working with Mr Chronican, along with all members of the National Foundation for Australia-China Relations Advisory Board, on this very important initiative.”
Mr Chronican is also the chairman for the Westmead Institute for Medical Research, and served as the CFO of Westpac from 2001 to 2005 and the CEO of ANZ from 2009 to 2015. At Westpac he played an important role in the sale of the Australian Guarantee Corporation (AGC) and the acquisition of BT Financial.
The appointment follows the departure of board member Dig Howitt, CEO and president of Cochlear. Mr Chronican is not the only business big wig to join council, with former BlackRock APAC managing director Pru Bennett taking the role of chair in June. Journalist Stan Grant also sits on the board.
“Having held roles engaging at senior levels in business and advising key economic and financial regulators in Hong Kong and Singapore, Ms Bennett will bring great insight into the challenges and opportunities of managing business, trade and investment between greater China and the region, and in corporate and board governance,” Ms Payne said at the time.
