Secretary to the Australian Treasury John Fraser has resigned after three and a half years in the position.
The government has announced the resignation of Secretary to Treasury John Fraser, who was appointed to the role in January 2015.
Mr Fraser, who was the chairman and CEO of UBS Global Asset Management from late-2011 to 2013, will be replaced as Treasury secretary by Philip Gaetjens.
Treasurer Scott Morrison announced the changes to the Department of the Treasury this afternoon.
"Mr Gaetjens has experience in Commonwealth and State public sector leadership roles, including as Secretary of the New South Wales Treasury between 2011 and 2015, and previously served in the Commonwealth Treasury as a senior executive," Mr Morrison said.
Mr Gaetjens has also served as the chief of staff for Mr Morrison and former Treasurer Peter Costello, encompassing 11 federal budgets, said Mr Morrison.
The treasurer thanked Mr Fraser for his service.
"His private sector experience was invaluable to the Government across a broad policy agenda, including in relation to budget repair, tax reform, infrastructure financing and financial sector stability," he said.
"As Treasurer, I thank Mr Fraser for his dedicated public service and I wish him and his wife, Julie, all the very best for the future," Mr Morrison said.
As the US election cycle draws to its close, investors must avoid getting distracted by the bluster around the result. ...