Latest news with #TCorp
Sky News AU
a day ago
- Business
- Sky News AU
NSW Labor picks former Liberal premier Dominic Perrottet for top government position
NSW Labor Treasurer Daniel Mookhey has recruited former Liberal Premier Dominic Perrottet to bolster the government's investment strategies. The Saturday Telegraph revealed Mr Perrottet, a former Treasurer and later Premier would serve as the newest member of the NSW Treasury Corporation board known as T-Corp. The call was made by NSW Treasurer Daniel Mookhey. Mr Perrottet served as the state's 46th Premier from 2021-23 following the resignation of former Premier Gladys Berejiklian. He is currently working in Washington DC for Australian multinational mining and metals corporation BHP as head of corporate and external affairs. TCorp is the financial services partner to the NSW public sector, providing investment management and financial management solutions and advice to the government. With $117bn of assets under its management, TCorp also serves as the NSW government's sovereign investment manager. TCorp further acts as the central borrowing authority for the state with a balance sheet of $198bn. Mr Perrottet is the only former politician on the board, with the majority of members coming from a banking, superannuation and auditing background. It is believed Mr Perrottet will sit on the board while continuing his role at BHP. Mr Mookhey met with the former premier during his trip to Washington DC four months ago, with Mr Perrottet writing on his LinkedIn at the time that the two spoke about matters that were 'critical to both the US and Australia.' 'Yesterday I had the privilege of hosting NSW Treasurer Daniel Mookhey at the BHP Washington DC office for an important and timely discussion about issues that are critical to both the US and Australia,' Mr Perrottet wrote. 'It was a great opportunity for us to bring together business and opinion leaders as well as policymakers at a dynamic time to discuss the trends shaping the US market, the importance of critical minerals in the energy agenda, and the global competition for capital investment. 'The event underscored the importance of international collaboration and strategic engagement in navigating economic challenges and opportunities. It was a valuable platform for exchanging ideas and building partnerships that will benefit both countries.' However, Mr Perrottet is not the only former NSW Liberal figure to take up a post with a Labor government, with ex treasurer and energy minister Matt Kean appointed as chair of the federal Climate Change Authority by Prime Minister Anthony Albanese last year. Mr Kean who passed legislation to cement NSW's net zero emissions reduction targets said the CCA was 'close' to handing down its recommendation to the federal government on the highly anticipated 2035 carbon reduction targets.
AU Financial Review
31-05-2025
- Business
- AU Financial Review
More directors are pushing back on shareholder critics, TCorp says
Powerful chief executives of major ASX-listed companies are strong-arming their boards into opposing shareholders who highlight issues around a firm's governance or even potential conflicts of interests, according to NSW's $120 billion sovereign wealth fund TCorp. An increasing number of directors were comfortable saying that 'they think shareholders have got it wrong' when challenged, TCorp's head of investment stewardship Alexis Cheang told AFR Weekend.
