DIPLOMATIC representatives from Samoa, the Solomon Islands, Papua New Guinea, the Kingdom of Tonga, New Caledonia, Vanuatu, New Zealand, and Kiribati will meet today with members of the Joint Standing Committee on Foreign Affairs, Defence and Trade for a roundtable discussion on the topics of Pacific trade, aid and defence.
Further details about the about the inquiries, including terms of reference, details on how to contribute a submission and, when available, details of public hearings and roundtable discussions, can be obtained from the Committee’s website.
Public hearing details
Date: Friday 4 September 2020 Time: 9am to 12:30pm Location: Committee Room IR1, Parliament House, Canberra
SUPER FUNDS MTAA Super and Tasplan have appointed Ross Barry as chief investment officer ahead of their merger next year.
With over 25 years experience, Dr Barry is a pioneer in institutional investing in Australia and is well known in the super industry as a specialist in private market investing and a leading proponent of active asset ownership. He was most recently the senior investment leader for First State Super.
Dr Barry will join MTAA Super on September 28, 2020. His appointment completes the C-suite team that will lead the combined fund after March 31, 2021.
The full C-suite group includes CEO Leeanne Turner; chief operations officer Kathleen Crawford; CIO Ross Barry; chief strategy officer Ningning Lyons; chief of people and culture Robyn Judd; chief of governance risk and compliance Amy Ward; and chief finance officer Grace Angeles.
Current MTAA Super executive manager for investments Phil Brown will assist with the handover before stepping down in mid-October after 15 years of service. More MTAA Super and Tasplan executives will exit following completion of the merger.
Departing from MTAA Super will be deputy CEO Michael Sykes; executive manager for operations Chris Porter; and executive manager of marketing, communications, education and advice.Michael Irving,
Departing from Tasplan will be CEO Wayne Davy; COO and deputy CEO Nick Connor; executive manager for trategy Keryn Welch; chief risk officer Greg Hanigan; and acting CIO Dave Stuart.
CEO designate of the new merged entity, Leeanne Turner said, “On behalf of our respective boards, staff, and members, I sincerely thank all the executives for their dedication and commitment to the funds. They have been instrumental in driving this merger and have been integral to our success for many years leading up to this. I wish them all the best with their future endeavours.
“We are excited about the future. This merger will allow us to provide the personal customer service benefits of a smaller fund while harnessing the benefits of scale a larger fund can bring.”
Chair of Tasplan, Naomi Edwards said the focus was now on completing the merger with minimal disruption to members and employers.
“To date, the merger process has been very smooth, and we want to keep it that way," Ms Edwards said. "So, having our C- suite structure in place early is critical. I’m very excited about the team we have put together and I have no doubt they will help us build a fund that our members can be proud of.”
PACER Plus is an agreement yet to be ratified with 13 other members of Pacific Islands Forum that it is hoped will encourage a stronger regional trading system between Pacific island countries.
Further details about the about the inquiry, including terms of reference, details on how to contribute a submission and, when available, details of public hearings and roundtable discussions, can be obtained from the Committee’s website.
Public hearing details
Date: Thursday 3 September 2020 Times: 10am to 11:15am Location: Committee Room IR3, Parliament House, Canberra
THE SIGNIFICANT and invaluable contribution merchant seafarers make to Australia’s economy and society, both during wartime and at peace, has been recognised today on Merchant Navy Day.
With more than 98 percent of the nation’s imports and exports carried by sea, the COVID-19 crisis has highlighted once again how vital seafarers remain to Australia’s security and economic success.
During World War II, one-in-eight Australian merchant seafarers sacrificed their lives — a casualty rate higher than those suffered by any of the armed forces — in an effort to maintain supplies of goods and materials vital for the war effort.
Merchant Navy Day is commemorated each year to remember their sacrifice, marking the anniversary of the sinking of the first Allied merchant vessel during World War II, on September 3, 1939.
The Maritime Union of Australia said the day also highlighted the urgent need to invest in Australia’s declining merchant fleet.
“During the first and second world wars, more than 800 Australian merchant mariners sacrificed their lives for the Allied cause,” MUA national secretary Paddy Crumlin said.
“The role of merchant seafarers remains just as important during peace-time, as they transport the goods and resources needed to keep the Australian economy ticking.
“The COVID-19 pandemic has highlighted the importance of this invaluable work, as global supply chains were stretched by an unprecedented crisis.
“Unfortunately, very few large trading vessels still fly the Australian red ensign, undermining our economic sovereignty as supply chains become increasingly reliant on foreign owned, crewed and flagged ships.
“A smart island nation needs a strong merchant navy — a lesson that is as relevant in the midst of a global pandemic as it was during both world wars.”
Mr Crumlin said Merchant Navy Day wasn’t just about remembering the sacrifices of the past, but highlighting the need to revitalise Australia’s shipping industry to ensure it can continue to support the nation’s economic and national security.
“Seafarers transport Australia’s exports, they supply the country with fuel, and they ensure the overwhelming majority of everyday products are available to the community,” he said.
“As the number of Australian-crewed vessels declines, not only are quality jobs lost, but the country is left vulnerable to global conflicts or economic shocks that disrupt maritime trade.
“During past conflicts, Australian-owned vessels crewed by Australian seafarers were available to ensure our supply lines remained in place, but decades of neglect has seen the industry hollowed out.
“Australia is now almost entirely dependent on foreign flag-of-convenience vessels, often registered in tax havens and crewed by exploited visa workers on as little as $2 per hour, to move cargo around the coast.
“One of the key lessons of World War II was the importance of having skilled, experienced seafarers to maintain supply lines during times of crisis. It is essential that as a nation we don’t forget it.”
"The Economics Committee and I are keen to discuss the banks’ response to the pandemic with the benefit of hindsight and bring forward new issues about Australia’s economic recovery," Mr Wilson said.
"Since the start of the pandemic, the Australian Government has introduced a range of support measures in cooperation with the banks. It’s really important that financial institutions are held accountable and that they are treating consumers fairly during what is a difficult time for many Australians.
"We are also keen to hear about the consequences of mortgage and small and medium business loan deferrals, and where there are opportunities for reform of responsible lending laws in light of the RBA Governor’s recent evidence to the committee."
"The committee will scrutinise the banks on how they are improving their practices and rebuilding trust in the sector. In particular, the committee will question banks regarding compliance issues that have continued to come to light, such as Westpac’s compliance failings in relation to its transaction reporting system," Mr Wilson said.
"Failures of this type have once again shaken the community’s trust in financial institutions, and these hearings give the committee an opportunity to follow up on how they can be prevented in the future so that the industry can regain the community’s trust."
For more information about the hearings, or to read transcripts from previous hearings, you can visit the Committee’s website.
Public hearing details
Date: Friday 4 September 2020 Time: 9.15am to 4.15pm Witnesses: ANZ, CBA Location: Via videoconference
Date: Friday 11 September 2020 Time: 9.15am to 4.15pm Witnesses: Westpac, NAB Location: Via videoconference
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