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Victorian Finance Industry Council (VFIC)

Overview of the Victorian Finance Industry Council

The role of the Victorian Finance Industry Council is to inform and advise Government on opportunities to grow the Financial Services Industry in the State.

The Council is chaired by the Minister for Industry and Trade, Hon. Theo Theophanous, and is comprised of senior representatives from across the Victorian Financial Services Industry.

The Council is supported by a secretariat within the Department of Innovation, Industry and Regional Development.

Terms of Reference

The Terms of Reference are as follows:

"Inform and advise Government on the opportunities to grow the Financial Services Industry in Victoria:

a) with specific reference to –

  • greater internationalisation of the sector
  • enhanced development of a skilled and capable workforce
  • competitive advantages and growth opportunities
  • significant opportunities for innovation to drive growth in the financial sector and sectors it enables

b) on pertinent matters raised by the Minister from time to time".

VFIC Members

Name Position Organisation
Hon. Theo Theophanous Chair Minister for Industry and Trade
Mr Syd Bone Chief Executive Officer Victorian Funds Management Corporation
Mr Leon Carter National Secretary  Finance Sector Union of Australia
Mr Geoff Cohen Managing Director of Investment and Insurance Products ANZ Banking Group Ltd
Mr Stuart Crosby Chief Executive Officer Computershare
Mr Mike Cutter President and Chief Executive Officer GE Money Australia and New Zealand
Mr John Donovan Managing Director – Head of Institutional AFM Investment Partners
Mr Craig Drummond Chief Executive Officer Goldman Sachs JB Were
Mr Jeremy Duffield Managing Director Vanguard Investments
Mr John Dyson Investment Principal Starfish Ventures
Ms Joan Fitzpatrick  Chief Executive Officer  Australian and New Zealand Institute of Insurance and Finance
Mr Les Hosking Managing Director and Chief Executive Officer National Electricity Market Management Company
Mr Mark Joiner Group Chief Financial Officer National Australia Bank
Mr John Magowan Director MM&E Capital
Mr Maurice O’Shannassy Managing Director BlackRock Investment Management
Mr Geoff Roberts Group Chief Financial Officer AXA Asia Pacific Holdings
Ms Elana Rubin Chair Australian Super
Mr Anthony Wamsteker Chief Executive Officer Members Equity Bank
Ms Maria Wilton Chief Executive Officer Franklin Templeton


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