Future Fund Board of Guardians

The Future Fund Board of Guardians is responsible for investing the assets of the Future Fund and other investment funds.

The Board consists of a Chair and six other members. Board members are appointed by the responsible Ministers, in accordance with legislation, and selected for their expertise in investing in financial assets, managing investments and corporate governance. Each Guardian is appointed on a part time basis for a term of up to five years.

Hon. Peter Costello AC

Hon. Peter Costello AC (Chairman)

Mr. Costello was first appointed to the Board with effect from 18 December 2009. He was appointed acting Chairman on 11 January 2014 and Chairman with effect from 4 February 2014 for a five year term.

Mr. Costello served as a member of the House of Representatives from 1990 to 2009 and was Treasurer of the Commonwealth of Australia from March 1996 to December 2007.  He has been Chair of the G20 Central Bank Governors and Finance Ministers, the OECD Ministerial Council, the APEC Finance Ministers, and a Governor of the IMF, World Bank and Asian Development Bank.  He has served as Chairman of the Independent Advisory Board to the World Bank.

Mr. Costello is a Director of Nine Entertainment Co and Chairman of ECG Financial Pty Ltd. Mr. Costello was appointed a Companion of the Order of Australia in 2011 for eminent service to the Parliament of Australia through the development of landmark economic policy reforms.

Mr. Steven Harker

Mr. Steven Harker

Mr. Harker was appointed with effect from 3 April 2012 for a period of five years.

Mr. Harker has deep understanding of global financial markets and substantial expertise in investment and asset management. He is the Managing Director and Chief Executive Officer of Morgan Stanley Australia and is a Director of Australian Financial Markets Association Ltd and Investa Property Group.

Ms. Carolyn Kay

Ms. Carolyn Kay

Ms. Kay was appointed with effect from 14 April 2015 for a period of five years.

Ms. Kay has extensive experience in the finance sector both in executive and non executive roles, including working as a banker and as a lawyer at Morgan Stanley, JP Morgan and Linklaters & Paines in London, New York and Australia and most recently as a former director of the Commonwealth Bank of Australia. Ms Kay is currently a director of Allens Linklaters, Brambles, John Swire & Sons P/L and a number of not-for-profit organisations. She has also been awarded the Centenary Medal for services to business.

Mr. John Poynton

Mr. John Poynton AO

Mr. Poynton was appointed with effect from 4 February 2014 for a period of five years.

Mr. Poynton is a Director of Azure Capital and a Director of Crown Perth. Mr. Poynton also previously served as a Director of the Export Finance Insurance Corporation, a member of the Higher Education Endowment Fund and served as a member of the Payment Systems Board of the RBA.

Dr. Jane Wilson

Dr. Jane Wilson

Dr. Wilson was appointed on 14 April 2015 for a period of five years.

Dr. Wilson has had a distinguished career as an independent director with a background in finance, banking and medicine. Dr. Wilson is an independent director of Sonic Healthcare Ltd and a member of the Prime Minister's Business Advisory Council. She also sits on the Winston Churchill Memorial Trust Board.

Ms. Erin Flaherty

Ms. Erin Flaherty

Ms. Flaherty was appointed with effect from 3 April 2016 for a period of five years.

Ms. Flaherty has extensive experience in corporate governance, finance, infrastructure and law, including most recently as Commercial Manager and Deputy Chief Executive at Reliance Rail. Ms. Flaherty is currently an Executive Director at Infrastructure NSW and a member of the advisory boards for North West Rail, Sydney Metro and Sydney Light Rail. Her current appointments include National Chair, Professional Scholarship Selection Committee of the Australian-American Fulbright Commission and Non-Executive Director of the Australian Youth Orchestra.

Mr. Michael Wachtel

Mr. Michael Wachtel

Mr. Wachtel was appointed with effect from 3 April 2016 for a period for five years

Mr. Wachtel's primary business experience is global in nature and predominately in the area of large complex international business. Through various leadership roles in the professional services industry he has extensive experience in organisational leadership, finance, risk management and governance, including as a former Chairman (Asia Pacific & Oceania) of Ernst & Young (EY). He was also a member of the EY Global Governance Council & Global Risk Executive Committee. He co-authored the BCA White Paper "Removing Tax Barriers to International Growth" (2001).

He is currently a board member of the Australian Centre for Moving Image (ACMI) and the St Vincent's Medical Research Institute; a Past President of the International Fiscal Association (IFA Australia) and a past member of the Tax Advisory Board of the Melbourne University Law Faculty.


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