Government reveals new financial services minister

In revealing his new cabinet yesterday, Prime Minister Scott Morrison named senator Jane Hume the Assistant Minister for Superannuation, Financial Services and Financial Technology.

Prior to entering the Senate, Ms Hume was previously a senior policy adviser for industry fund AustralianSuper. Before that, she had held roles for the National Australia Bank, Rothschild Australia and Deutsche Bank.

Michael Sukkar will be the Assistant Treasurer, taking over from Stuart Robert who had been in the role since August last year, as well as the Minister for Housing.

Mr Morrison said Mr Sukkar would have particular responsibility for the First Home Loan Deposit Scheme, which was announced and committed to during the election, as well as more affordable housing.

Mr Robert has been shuffled to become the Minister for the National Disability Insurance Scheme and the Minister for Government Services.

Meanwhile, Josh Frydenberg continues in his capacity as Treasurer.

“We are a government that is back at work and the ministry will be sworn in on Wednesday. The party room comes together on Tuesday, cabinet will meet on Wednesday,” Mr Morrison said. “I look forward to working with my new team.”

Adrian Flores

Adrian Flores is a deputy editor at Momentum Media, focusing mainly on banking, wealth management and financial services. He has also written for Public Accountant, Accountants Daily and The CEO Magazine.

You can contact him on adrian.flores@momentummedia.com.au.