Josh Frydenberg to chair Goldman Sachs' ANZ business

The news: Goldman Sachs has appointed former federal treasurer Josh Frydenberg as chairman of its Australia and New Zealand businesses, according to a staff memo.

The context: Frydenberg was appointed treasurer in 2018 and lost his seat of Kooyong in the 2022 federal election. He was appointed as a senior regional adviser by Goldman Sachs last year, and will also continue in that role. As chairman, Frydenberg will work closely with CEO Simon Rothery, Managing Director Zac Fletcher and investment banking co-head Nick Sims to further enhance client focus, the memo said.

What they said: "In this role, Josh will focus on further deepening and strengthening client coverage across the A/NZ region. He will continue to offer advice on economic and geopolitical issues as the firm’s senior regional adviser for Asia Pacific," said Rothery and Kevin Sneader, Goldman's President of Asia Pacific Ex-Japan, in the memo.