The Secretary to the Treasury has appointed Anne Blackburn, Marko Bogoievski, Roger France, Cathy Quinn and Mark Verbiest as members of the Treasury's new Commercial Operations Advisory Board, Deputy Chief Executive Vicky Robertson announced today.
The Advisory Board has been established as one of a number of changes following a Treasury review of its commercial operations last year. The Board's role is to support and enhance the Treasury's commercial analysis and advice to Ministers by:
- reviewing and testing the Treasury's high level strategic advice, where the outcomes could have a material impact on the performance of the commercial portfolio or debt management activities
- providing guidance on the strategic approach and work programme priorities of the Treasury's Commercial Operations group and Debt Management Office
- providing Ministers with access to an independent private sector perspective, to help them make well-informed decisions regarding the commercial portfolio.
"Commercial operations represent a big part of the Treasury's work," says Ms Robertson. "We monitor 48 fully or partially government-owned enterprises with fully or partially commercial objectives, in which the Crown has an equity investment of $56.2 billion. We also advise the Government on a range of commercial issues, such as major transactions and entities in distress, and assist with the appointment of directors.
"With significant changes to the commercial environment and the Government's balance sheet in recent years, the Treasury thinks it's important to bring in expert external perspectives on the best approaches to our commercial operations. The Commercial Operations Advisory Board will keep our commercial advice tightly connected to markets and best practice investment management both locally and globally."
Vicky Robertson is chair of the Advisory Board. Appointment terms for the Board members have been phased from one to three years to allow for future Board succession.
"I'm excited to be supported by Board members who each bring with them a range of exceptional skills and experience, and who have a high standing in the commercial community," says Ms Robertson.