Sherry retains ALP’s financial services brief



Nick Sherry
The Federal Opposition has opted for continuity with respect to the Australian financial services industry, retaining Tasmanian Senator Nick Sherry as its spokesman on superannuation, intergenerational finance, banking and financial services.
The leader of the Opposition, Kevin Rudd, said Sherry would be part of the Australian Labor Party’s economic team, which now includes shadow treasurer Wayne Swan, assistant treasurer Chris Bowen, and shadow finance minister Lindsay Tanner.
Sherry’s reappointment to handle the broad financial services portfolio means that he has retained the role under no fewer than four opposition leaders — Kim Beazley, Mark Latham, Simon Crean and now Kevin Rudd.
The Opposition is expected to announce further details of its financial services policy next year.
Recommended for you
With the final tally for FY25 now confirmed, how many advisers left during the financial year and how does it compare to the previous year?
HUB24 has appointed Matt Willis from Vanguard as an executive general manager of platform growth to strengthen the platform’s relationships with industry stakeholders.
Investment manager Drummond Capital Partners has announced a raft of adviser-focused updates, including a practice growth division, relaunched manager research capabilities, and a passive model portfolio suite.
When it comes to M&A activity, the share of financial buyers such as private equity firms in Australia fell from 67 per cent to 12 per cent in the last financial year.