Senator Nick Sherry has lost substantial carriage of the Federal Government’s financial services portfolio including superannuation and corporate law.
In the Cabinet reshuffle announced by the Prime Minister, Kevin Rudd, on Saturday, Sherry was moved to the less industry-facing role of Assistant Treasurer replacing Chris Bowen who has been made Minister for Financial Services, Superannuation and Corporate Law as well as Minister for Human Services.
It is the first time the full financial services portfolio has been brought under one minister.
