NSW Labor snags former Premier Dominic Perrottet for major role
Treasurer Daniel Mookhey has appointed former Liberal premier Dominic Perrottet to a major economic role.
NSW
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Treasurer Daniel Mookhey has appointed former Liberal premier Dominic Perrottet to help drive the Labor government’s investment strategy.
The Saturday Telegraph can reveal that Mr Perrottet - a former treasurer who is now working for BHP in Washington DC as head of corporate and external affairs - will be joining the board of the NSW Treasury Corporation, also known as T-Corp.
T-Corp is the financial services partner to the NSW public sector and the State’s central borrowing authority with assets of $115 billion under its management.
Mr Perrottet will serve on the board while continuing his role at BHP.
He will earn $55,000 for the T-Corp board role.
Four months ago, Mr Mookhey visited Mr Perrottet at the BHP office.
Mr Perrottet wrote on his LinkedIn at the time that the pair had discussed issues “critical to both the US and Australia”.
“Yesterday I had the privilege of hosting NSW Treasurer Daniel Mookhey at the BHP Washington DC office for an important and timely discussion about issues that are critical to both the US and Australia,” Mr Perrottet wrote.
“It was a great opportunity for us to bring together business and opinion leaders as well as policymakers at a dynamic time to discuss the trends shaping the US market, the importance of critical minerals in the energy agenda, and the global competition for capital investment.
“The event underscored the importance of international collaboration and strategic engagement in navigating economic challenges and opportunities. It was a valuable platform for exchanging ideas and building partnerships that will benefit both countries.”
The announcement comes as TCorp prepares to refinance billions of dollars of debt the state borrowed to respond to the COVID-19 pandemic at a turbulent time in global bond markets.
It also follows the state government detailing in this week’s Budget the expansion of a “OneFund investment strategy” to cover more than $62 billion in funds under management.
Since its inception in August 31 last year, OneFund has generated $3.6 billion - a return of 6.7 per cent compared with its objective of 5.4 per cent - with an extra $2.2 billion expected to be returned over the next four years.
Mr Perrottet, who was Liberal premier from 2021 to 2023 and treasurer from 2017 to 2021, said the role would enable him to continue serving the people of NSW.
“Joining the TCorp board is an opportunity to continue serving the people of NSW by helping deliver strong returns on the state’s sovereign investments and securing the best value on its borrowings,” he said.
NSW Treasurer Daniel Mookhey said Mr Perrottet’s roles - which also included as finance minister - added even more “heft” to the TCorp board.
“I am honoured to appoint Dominic Perrottet to the Board of TCorp, one of the state’s most important economic institutions,” he said.
“By the end of the decade, TCorp will be managing hundreds of billions of dollars of assets and liabilities for the people of NSW, so it’s important that its governance stays above politics.
“Mr Perrottet’s years of service as finance minister, treasurer and premier adds even more heft to TCorp’s Board. I look forward to working with him in his new role.”
Last year, Prime Minister Anthony Albanese appointed former NSW Liberal Energy and Environment Minister Matt Kean to the chair of the Climate Change Authority - a role that pays $65,000.
Mr Kean is also working as a director of strategic partnerships and regulatory affairs at Wollemi Capital, a private climate and environmental investment fund.
Earlier this year, the Albanese government reappointed former NSW Nationals leader Troy Grant to the $400,000 full-time role of the Inspector General of Water Compliance.
Originally published as NSW Labor snags former Premier Dominic Perrottet for major role
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