TCorp chair steps down

The chair of TCorp will retire from the board at the end of September.

Philip Chronican will retire from the TCorp board, having been on a leave of absence since March this year after he was appointed to the role of interim group chief executive for National Australia Bank.

He first joined the board of the investment and financial management partner of the New South Wales public sector in 2009 and has been chair since 2016.

TCorp chief executive David Deverall said: "Phil's appointment to chair of TCorp was a milestone. Traditionally chairs of TCorp were secretaries of Treasury. His appointment was a change to that convention and this marked an important shift to the governance of TCorp."

"During his time as chair, Phil has led the board with distinction. Our funds under management have grown from $66 billion in 2016 to $105 billion today, our organisation continues to flourish and undergo transformational change and we are a trusted advisor to the NSW Government."

Secretary of the NSW Treasury Michael Pratt added: "TCorp is a very important partner to the NSW Government and NSW Treasury in particular. I would like to acknowledge the outstanding leadership that Phil has demonstrated both as chair and director over the past 10 years."

During his tenure on the TCorp board Chronican chaired the Audit and Risk Committee, the board Investment Committee and the People and Remuneration Committee.

Chronican will replace Ken Henry as chair of the NAB board once a permanent chief executive is appointed.

He has been a NAB director since 2016 and has 35 years' experience in banking and finance in Australia and New Zealand.

That experience includes overseeing ANZ's Australian retail and commercial business and a number of executive roles at Westpac.

Read more: PhilNSW TreasuryNABMichael PrattPhilip ChronicanNational Australia BankANZDavid DeverallKen HenryWestpac
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