Feds sweating on appointment for key new economic role

A new NT economic appointment with an eye-watering salary is being finalised by the federal government. Read what it is.

The federal government is stewing over the appointment of a new chief executive for a $400,000-plus a year job.

A recruitment firm has been appointed to find a new chief executive for the NT Aboriginal Investment Corporation – a key economic appointment in the Northern Territory.

There were hopes an appointment would have been finalised by now but this masthead understands cabinet has not yet signed off on the new role.

The NT News understands the organisation wants to recruit an applicant from the Northern Territory, but it’s not clear whether there were local applicants.

The NTAIC was formed to oversee the investment of mining royalties sourced from Aboriginal land in the Northern Territory and paid into the Aboriginal Benefits Account.

The body has $680m to spend over three years on projects targeting Indigenous jobs, businesses and investment in the Territory.

Leeanne Caton recently stepped aside from the NT Aboriginal Investment Corporation last month.

Its significance is reflected in the chief executive’s salary, understood to be a toe-curling $422,898 – the same as land council CEOs.

A spokeswoman for federal indigenous affairs minister Linda Burney said a recruitment process was currently underway.

“The NTAIC Board has undertaken a recruitment process for the CEO position, and this appointment is currently being considered,” she said.

When the new body was announced by former federal indigenous affairs minister Ken Wyatt in 2022, he said it would move “control of the Aboriginal Benefit Account and decisions around its investment into Aboriginal hands”.

The NTAIC board includes two representatives from each of the four NT land councils, two independent directors appointed by the Australian government and two independent directors appointed by the board.

The Barunga Festival is partly sponsored out of the Aboriginal Benefit Account. Picture: Pema Tamang Pakrhin

Former NT Business Woman of the Year Leanne Caton was appointed acting chief executive late last year but declined a contract extension after the initial six-month stint expired.

It is understood Ms Caton, who had previously served for three years as chairman of the Aboriginal Benefits Account, was on a considerably lower salary.

Pipeline Talent has been appointed to find a replacement for Ms Caton after having recruited her to the job last year in an acting capacity.

Delivering remote community housing is a core role for the NTAIC.

The position summary said NTAIC will “invest in projects that will grow long-term wealth and support Aboriginal economies in the Northern Territory as well as support important social and cultural priorities”.

“The Corporation will empower Aboriginal people to activate the economic potential of their land and strategically invest in their communities and businesses to grow wealth for future generations,” the advertisement said. “The NTAIC will be a significant new economic vehicle in the NT.”

The salary, which is funded through the ABA, is one of the highest paid in the Northern Territory.

In comparison the chief minister’s annual salary is $325,392 and the Administrator takes home $332,000.

The Territory’s public service bosses recruited after 2019 take home $391,848 a year.

Between 2011 and 2019 the best paid public service contract was $411,685.

The NTAIC has been contacted for comment.