The appointment of Professor Kevin Davis, Research Director of the Australian Centre for Financial Studies (ACFS), to the inquiry into Australia’s financial system is due recognition for his thought leadership in the financial services sector, says ACFS Executive Director Deborah Ralston.
Ralston says: “The Centre is delighted with Kevin’s appointment. Throughout his academic career Kevin has been an important contributor to research in the financial sector. His first-class work has spanned a range of topics, including being a major contributor to Funding Australia’s Future– one of the ACFS’s key projects.
“Kevin has been a Professor of Finance at the University of Melbourne since 1987 and before that was a Senior Lecturer in Economics at the University of Adelaide. His primary research interests are in the areas of financial institutions and markets, financial engineering and corporate finance.
“He is co-author/editor of 16 books in the areas of finance, banking, monetary economics and macroeconomics and numerous journal articles and chapters in books.”
Prof Davis is one of five appointees to the inquiry that was announced recently by the Treasurer, Joe Hockey. It will be headed by David Murray, the former CEO of the Commonwealth Bank and chairman of the Future Fund.
Ralston says aside from his academic credentials, Prof Davis, who has B.Ec (Hons) from Flinders University and a M.Ec from the Australian National University, will bring a wealth of practical experience about the financial services sector to the inquiry.
“In 2003, he was appointed by the then Federal Treasurer to prepare a report on Financial System Guarantees (the Davis Report) to assess the case for the introduction of deposit insurance. This provided the basis for the Financial Claims Scheme.
“He is co-Chair of the Australia-NZ Shadow Financial Regulatory Committee (independent academic economists and part of a world-wide network of committees) that meets and produces statements on financial regulation.
“He is also a frequent presenter to industry conferences and seminars, and was invited by Treasury to address the Financial Sector Advisory Council in July 2013, as well as being a regular contributor to public debate on financial matters.”
Prof Davis says: “I am honored to have been proposed to an inquiry that will follow in the footsteps of its two famous predecessors – Campbell (1981) and Wallis (1977). “When the Wallis report was handed down, superannuation assets, just five years into compulsory system, totalled only $261 billion in FUM. Today that figure is about $1.7 trillion. It is these types of changes that the inquiry will have to come to grips with to ensure Australia’s financial services sector has the right architecture for the future.”
Media contact details:
Professor Deborah Ralston
Professor of Finance, Monash University Executive Director, Australian Centre for Financial Studies
M: 61 419 650 318 E: firstname.lastname@example.org