Macquarie Bank head of banking and financial services Peter Maher has been elected to succeed Perpetual managing director David Deverall as the new chairman of the Financial Services Council (FSC).
At its annual general meeting, the FSC also announced that Colonial First State chief executive Brian Bissaker had been re-elected as deputy chairman, while AllianceBernstein Australia & New Zealand chief executive Michael Bargholz would replace Maher as the other deputy chairman.
Maher said it was a great honour and an exciting challenge to be named the new chairman of the FSC at a time of unprecedented reform in the financial services sector.
"The FSC is committed to a financial services sector that is open, competitive and transparent," he said.
"Our objective is to ensure the reforms deliver the best outcomes for consumers, without unnecessary regulation."
Meanwhile, Suncorp Life chief executive Geoff Summerhayes and Equity Trustees managing director Robin Burns were appointed as directors, replacing ING Australia chief executive Harry Stout and Mercer Asia Pacific region head Peter Promnitz.
