APRA hires Deutsche Bank executive
Australia's prudential overlord is widening its management ranks after revealing that one of Deutsche Bank's most senior treasury executives will join the regulator in February.Therese McCarthy-Hockey, a deputy group treasurer and chief operating officer at Deutsche's London operation, has been appointed to fill the newly created role of executive general manager - strategy and chief risk officer - at the Australian Prudential Regulation Authority.McCarthy-Hockey has spent the past seven years working in London following an eight-year stint as treasurer of Deutsche's Australian and New Zealand operations.Before joining the German behemoth in 2002, she worked as a dealer in Macquarie Bank's debt markets team in Sydney and within Bankers Trust's money markets operation.At APRA, McCarthy-Hockey will oversee the regulator's supervision framework, which guides how supervisors assess the risk profile of banks and insurers.She will also be responsible for evaluating and managing APRA's internal risks.APRA chairman Wayne Byers highlighted McCarthy-Hockey's international experience and expertise in financial markets."Therese's understanding of the financial system, and the inner workings of complex financial institutions, will help ensure APRA's strategies and supervisory practices remain up-to-date and fit for purpose," Byers said.McCarthy-Hockey holds a Master of applied finance degree from Macquarie University and an undergraduate degree in mathematics from Sydney University.