Australia's $131 billion sovereign wealth fund chair will not seek another term
SYDNEY - The head of Australia's A$206 billion sovereign wealth fund had informed the Australian government he will not seek a third term, Treasurer Jim Chalmers said on Monday, and a formal recruitment process to find a successor will begin.
Peter Costello, Australia's longest-serving treasurer, became the fund's chair in 2014 and was re-appointed in 2019 for another five years. His current term will end in February. Costello, as federal treasurer in 2006, oversaw the establishment of the Future Fund with contributions from A$60.5 billion in government surpluses and proceeds of the privatisation of telecom firm Telstra will also be removed; self-promotional material or business-related solicitations or PR , and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
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