Prime Minister Tony Abbott has announced a cabinet reshuffle, with rising star Josh Frydenberg named Arthur Sinodinos’ replacement as assistant treasurer.
Mr Frydenberg was until now the parliamentary secretary to the prime minister and has been heading up the government’s red-tape reduction agenda across the economy.
He will now take the reins in the assistant treasurer role – which includes responsibility for regulation of financial services – ending Mathias Cormann’s role as acting assistant treasurer and freeing Senator Cormann up to focus on the Budget full-time.
“I am humbled to have been appointed assistant treasurer by the prime minister,” Mr Frydenberg said in a statement.
“It is a great privilege to be able to serve in this portfolio as a member of the Abbott government ministry.
“I would like to pay tribute to Senator the Hon Arthur Sinodinos AO for his very valuable work in this portfolio.
“I would also like to acknowledge the very significant work of the Minister for Finance, Senator the Hon Mathias Cormann, who has been acting assistant treasurer.”
Mr Frydenberg is the federal member for the Melbourne seat of Kooyong and is a former barrister, Mallesons partner and Oxford University tennis blue.
The reshuffle follows Senator Sinodinos’ decision to return to the backbench more formally pending the ICAC investigations.
SUBSCRIBE TO THE IFA DAILY BULLETIN
23 Feb 2018IRESS results at ‘higher end’ of expected rangeBy Staff Reporter
23 Feb 2018Perth-based adviser cops five year banBy Staff Reporter
23 Feb 2018CBA contests new AUSTRAC claimsBy Staff Reporter
23 Feb 2018Global managers added to OneVue platformBy Staff Reporter
23 Feb 2018BT adds new insurers to APLBy Staff Reporter
23 Feb 2018Fintech a risk to specialist advisersBy Killian Plastow
- view all