Albanese names new financial services minister

Prime Minister Anthony Albanese has confirmed that Dr Daniel Mulino will serve as the Assistant Treasurer and Financial Services Minister during an announcement in Canberra outlining the reshuffle of the broader ministry.

Albanese said the ministers will be sworn in during a ceremony at 9am on Tuesday morning.

Mulino had been widely tipped as a strong contender for the portfolio, given he has been a member of the House of Representatives standing committee on economics since 2019 and serving as the chair since August 2022.

Speaking on the appointment, the Prime Minister said he got the portfolio “because he’s terrific and he’ll do a terrific job”, adding that he was “very pleased to get the job”.

“He’s played a role in the Parliament here in economics, I believe the economics team remains strong, led of course by [Treasurer Jim Chalmers] and [Finance Minister Katy Gallagher],” Albanese said.

He also noted Mulino’s PhD from Yale as strong evidence of his suitability for the position.

The newly minted minister completed his doctorate at the US university in 2005, delivering his thesis: The Macroeconomics of Aging: The impact of an aging society on capital deepening and international factor flows.

In 2022, he published Safety net: the future of welfare in Australia, a book that “explains how the Australian welfare state was created – and what we need to do to protect and extend it”.

Prior to entering Parliament, first in Victoria in 2014 before transitioning to the federal level in 2019, Mulino worked as a lawyer at the Attorney-General’s Department, a policy adviser at the Department of Finance, and an economist at the Independent Pricing and Regulatory Tribunal.

Mulino replaces former minister Stephen Jones who announced his retirement from politics in January and did not contest the election.

“I want to express my immense gratitude to my community for the faith and trust they have placed in me to be their representative since 2010,” Jones said at the time.

Other ministerial appointments are listed below:

• Mark Butler: Minister for Health and Aged Care, Disability and the NDIS.
• Chris Bowen: Minister for Climate Change and Energy.
• Catherine King: Minister for Infrastructure, Transport, Regional Development and Local Government.
• Amanda Rishworth: Minister for Employment and Workplace Relations.
• Jason Clare: Minister for Education.
• Michelle Rowland will be the new Attorney-General.
• Tanya Plibersek: Minister for Social Services.
• Julie Collins: Minister for Agriculture, Fisheries and Forestry.
• Clare O’Neil: Minister for Housing, Homelessness as well as Minister for Cities.
• Madeleine King: Minister for Resources and Northern Australia.
• Murray Watt: Minister for the Environment and Water.
• Malarndirri McCarthy: Minister for Indigenous Australians.
• Anika Wells: Minister for Communications and Minister for Sport.
• Pat Conroy: Minister for Defence Industry and Minister for Pacific Island Affairs.
• Anne Aly: Minister for Small Business and Minister for International Development and Multicultural Affairs.
• Tim Ayres: Minister for Industry and Innovation and Minister for Science.

In the outer ministry:

• Matt Keogh: Minister for Veterans’ Affairs and Defence Personnel.
• Kristy McBain: Minister for Regional Development, Local Government and Territories and NDIS, and Minister for Emergency Management.
• Andrew Giles: Minister for Skills and Training.
• Jenny McAllister: Minister for the NDIS.
• Daniel Mulino: Assistant Treasurer and Minister for Financial Services.
• Jess Walsh: Minister for Early Childhood Education and Youth
• Sam Rae: Minister for Aged Care and Seniors.