Portfolio — 4 July 2026

The Treasurer announced dual appointments to the leadership of the Australian Prudential Regulation Authority, recommending Therese McCarthy Hockey as Deputy Chair for a five-year term from 9 July 2026 and the Hon David Bradbury as Deputy Chair from 1 September 2026 [TA-260703-treasu-e0640a247f1c]. The two appointments are structured to run in sequence, with Ms McCarthy Hockey's term beginning first, ensuring continuity at the deputy level while Mr Bradbury transitions from his current role as Chair of the Board of Taxation [TA-260703-treasu-e0640a247f1c].

Ms McCarthy Hockey's background spans more than 20 years in financial markets, regulation and prudential oversight; she is currently an APRA member with responsibility for banking supervision, strategy, risk and compliance. Mr Bradbury brings over 25 years in economic policy, regulation and public administration, including prior service as Parliamentary Secretary to the Treasurer.

The appointments fill the role vacated by Margaret Cole, whom the Treasurer's media release acknowledged for her contribution to strengthening prudential oversight. Both candidates were selected through a merit-based process chaired by Treasury Secretary Jenny Wilkinson, with APRA Chair John Lonsdale and Attorney-General's Department Secretary Katherine Jones on the panel — a panel composition that signals deliberate cross-institutional sign-off on the selection.

The Treasurer framed the dual-deputy structure as a direct response to growing scale and complexity in the financial system, positioning complementary expertise — Ms McCarthy Hockey's supervisory depth alongside Mr Bradbury's policy and administrative experience — as the governance logic behind appointing two deputies simultaneously rather than a single successor [TA-260703-treasu-e0640a247f1c].

No parliamentary activity was recorded for this date; this Note is drawn from the comms stream alone.