Coalition slams ‘Labor insider’ appointment to APRA, questions KPMG ties
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More news: Opposition financial services spokesman Kevin Hogan has slammed the Albanese government’s move to appoint former Labor assistant treasurer David Bradbury as deputy chair of APRA, saying the move is “exactly what Australians hate about Canberra”.
Hogan said that while the joint appointment of Therese McCarthy Hockey to the role “brings serious regulatory experience and a strong record in financial services”, Bradbury’s appointment is “a different story”.
“Another Labor insider. Another plum appointment. Another powerful job overseeing Australians’ money handed to someone from Labor’s own political network,” Hogan said in a statement.
He argued that the appointment of a former Labor minister to oversee a sector “where Labor and big industry super have been joined at the hip for decade” would not be welcomed by ordinary Australians.
“For Mr Bradbury my test is simple: will he stand up to Labor’s mates in big super, or will he protect the club?”
Hogan also questioned why a former KPMG partner was being brought into a regulator when “Labor recently teamed up with the Greens to ban anyone recently receiving funds from the BIg 4 from being part of the technical boards that set accounting standards”.
Bradbury was a consulting partner at KPMG Australia between August 2024 and June 2026.
Hogan noted that KPMG has faced “severe criticism about their corporate governance” in the wake of a whistleblower scandal in which it was revealed that the consulting giant improperly used client information to win work with other companies.
David Bradbury, Therese McCarthy Hockey to be appointed APRA deputy chairs
The news: Therese McCarthy Hockey and David Bradbury will be recommended by the Albanese government as appointees to the deputy chair roles at the Australian Prudential Regulation Authority on five-year terms.
The context: The government needs to formally make the recommendation to the governor-general to make the appointments. It will recommend that McCarthy Hockey start on 9 July 2026 and Bradbury start on 1 September 2026.
Treasury Jim Chalmers said the appointment of two deputy chairs will improve the regulator’s capability to meet its objectives “at a time of increasing scale and complexity in the financial system”.
Bradbury, a former KPMG Australia consulting partner between August 2024 and June 2026, is currently chair of the Board of Taxation and has previously served as parliamentary secretary to former Labor treasurer Wayne Swan and assistant treasurer between 2010 and 2012. He has also worked at the Organisation for Economic Cooperation and Development.
McCarthy Hockey is currently an APRA member and previously spent 15 years at Deutsche Bank, including as deputy group treasurer and chief operating officer.
The government said the appointments are based on a merit-based selection chaired by Treasury secretary Jenny Wilkinson, APRA chair John Lonsdale and Attorney-General’s Department Secretary Katherine Jones.
The source: Treasurer media release
