The AFR is reporting that the former head of global investment bank UBS’s wealth management division John Fraser will soon replace Martin Parkinson as head of the Treasury Department.
The AFR says Prime Minister Tony Abbott is driving the push for Fraser’s appointment to the Treasury but the Treasurer is keen to get his department closer to markets.
Mr Fraser worked at the Treasury before moving in the private sector in the early 1990s, first at Swiss Bank and then UBS when they were merged. He moved to London in 2001 and ran the wealth management arm for 12 years – surviving the GFC-induced clean-out of senior management ranks at the bank.
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