Wayne Byres to step down as APRA chair

  • By Zilla Efrat

Wayne Byres will stand down as chair of the Australian Prudential Regulation Authority (APRA) on 30 October 2022 after eight years in the role.

Treasurer Jim Chalmers says: “He’ll be greatly missed but I wish him well.

“His leadership and expertise have positioned the Commonwealth to respond well to some of the greatest challenges in Australia’s history – most recently in ensuring the stability of the financial system during the COVID‑19 pandemic.”

Commenting on his move, Byres says he is pleased with what has been achieved by APRA in that time.

“There is always more to do, but the financial system is stable, APRA’s leadership team is strong, and the organisation and its people are well-placed to continue to manage future challenges,” he says.

“Against that backdrop, I feel that now is a good time to hand over the chair’s role to someone new, who will lead the organisation on the next stage of its journey.

“Just as we expect the financial institutions we regulate to carefully consider how they renew their leadership, the same applies to APRA.”

Byres says the decision to stand down was difficult to make because there is much about APRA he will miss.

Wayne Byres was appointed as a Member and Chair of APRA from 1 July 2014 for a five-year term. He was subsequently reappointed for a second five-year term commencing 1 July 2019.