The new minister responsible for the financial services portfolio, Victorian Liberal Senator, Jane Hume, has actually worked in the industry and has chaired the key Senate Economic References Committee which has conducted key inquiries into the sector.
Hume has been named a junior minister within the Treasury portfolio as the Assistant Minister for Superannuation, Financial Services and Financial Technology and will bring with her substantial experience in financial services including in investment banking and industry superannuation.
Hume’s background reveals that she kicked off in financial services in 1995 as an Investment Research Manager at National Australia Bank (NAB) before becoming a Private Banker at NAB before moving to Rothschild and then Deutsche Bank.
Most importantly, however, Hume was a Senior Strategic Policy Adviser at AustralianSuper between 2015-16.
As chair of the Senate Economics Committee Hume distinguished herself during Senate Estimates hearing, particularly those dealing with the roles of the Australian Securities and Investments Commission (ASIC) and the Australian Prudential Regulation Authority (APRA) with respect to both planners and industry funds.