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'Australia's Major fumble for a new global Industry'

It was 1988-1989 and Premier Nick Greiner led a delegation of Aussie Banks, the ASX, SFE, and corporates to promote Sydney as a financial centre, in forums in New York, London, and Tokyo. It was carried on later with his successor Premier John Fahey.

I conceived the concept, and organised well known Australians, Jim Wolfensohn and Rupert Murdoch to support by speaking, and Governor of the RBA, Bernie Fraser as well.

It lapsed under Bob Carrs Premiership, but I revived it when John Howard became PM. I took a delegation of the 4 majors, credit cards, ASX, SFE, MacQuarie, to Canberra to urge the new Howard Government to push the concept along, for Australia. 

With Arthur Sinodinos alongside Howard acknowledged the existence of a strong and well educated banking and finance intelligentsia, good practice, Australia's strategic position between Wall Street close and Tokyo opening et al.

Howard acted and formed a cabinet position, Financial Services, and made a minister responsible...JOE HOCKEY!

Fast forward to now. What happened?

Joe lost the plot. Achieved nothing.

Axiss was created and buried by Treasury eventually in a classic NIH manoeuvre( not invented here.)

Mark Johnson was given the role in pushing our global finance prowess...his achievements...nothing, just nothing!

In 1988-1996 Singapore, Hong Kong a fraction what they are now. Shanghai and China way back in real terms.

The ASX/SFE plan to roll out in Asia dissolved in dust!

A very good and sound idea to build Asian leadership by Australia in a sector using our human abilities lost in apathy, poor ministerial leadership, and the wrong businessman chosen to gun it along.

'Dont cry for me Australia...the truth is you've been let down by some of your current leaders'

Government Australia Advisory Board

Simon Crean MP

John Brumby 

Kristina Keneally

Mark Vaile

Nick Greiner

Alexander Downer

Peter Charlton

Trevor Rowe

Warwick Smith


Bob Carr