Tuesday , July 16 2019
Home / Business / Malcolm Turnbull hired by investment firm KKR as global senior adviser

Malcolm Turnbull hired by investment firm KKR as global senior adviser

In the 1990s, Turnbull was the local managing director of global investment bank Goldman Sachs Group Inc.

Loading

He was also an investor in one of Australia’s first internet service providers, OzEmail, reportedly buying a stake for $500,000 in 1994 and selling it for $57 million to MCI Worldcom five years later.

Turnbull had several shadow ministry and cabinet positions for the Liberal party and coalition government before orchestrating a leadership coup and becoming prime minister in September 2015.

He was himself unseated as prime minister in another leadership challenge in August 2018, one of four Australian prime ministers to be overthrown by their own party in a decade.

Turnbull’s first appointment since leaving government puts him in the company of several Australian prime ministers and senior politicians to take up financial advisory roles after leaving office.

Former Prime Minister Paul Keating became an adviser to investment bank Lazard Australia, while former New South Wales Premier Bob Carr became a consultant to the country’s biggest investment bank, Macquarie Group.

KKR counts around 18 senior advisers and 27 industry advisers who provide counsel on investment implications of trends and developments in public policy, regulation, societal needs and technology around the world.

Among the senior advisers with experience in the Asia Pacific region are former HSBC group chairman John Bond, former Qantas chairman Leigh Clifford and former Singaporean minister Lim Hwee Hua, according to KKR’s website.

Reuters

About admin

Check Also

The areas most vulnerable to interest rate changes

“There is not much [house price] action after the first two quarters, but about a …