Our Board

Our Board

The Efic Board is responsible for our corporate governance, managing our affairs and overseeing our operations. This includes establishing our corporate governance strategy, defining our risk appetite, monitoring our performance, making decisions on capital usage and dividend recommendations to the Minister for Trade and Investment (Minister).

Our Board always ensures that a Board member does not participate in discussions where there is, or may be, a conflict between their own interests and those of Efic or one of our clients. We maintain a register updated with the disclosed interests of all Board Members.

The Minister is responsible for Efic, and is represented on the Board by the Secretary of the Department of Foreign Affairs (or their alternate).

Also sitting on the Board are six non-executive directors, appointed by the Minister and our Managing Director – who is a full-time employee at Efic.

The Minister’s expectations of Efic are formally set out in a Statement of Expectations. Efic responds with a Statement of Intent, which outlines how the Board intend to meet these expectations.

The Efic Board is responsible for our corporate governance, managing our affairs and overseeing our operations. This includes establishing our corporate governance strategy, defining our risk appetite, monitoring our performance, making decisions on capital usage and dividend recommendations to the Minister for Trade and Investment (Minister).

Our Board always ensures that a Board member does not participate in discussions where there is, or may be, a conflict between their own interests and those of Efic or one of our clients. We maintain a register updated with the disclosed interests of all Board Members.

The Minister is responsible for Efic, and is represented on the Board by the Secretary of the Department of Foreign Affairs (or their alternate).

Also sitting on the Board are six non-executive directors, appointed by the Minister and our Managing Director – who is a full-time employee at Efic.

The Minister’s expectations of Efic are formally set out in a Statement of Expectations. Efic responds with a Statement of Intent, which outlines how the Board intend to meet these expectations.

Image of James Millar, Chairman, Independent non-executive member

James M Millar AM

Chairman, Independent non-executive member

Appointed: 9/12/2014 to 8/12/2017

Qualifications: B.Com, FCA, FAICD

James Millar is the former CEO and Area Managing Partner of Ernst & Young in the Oceania region, and was a director of the Ernst & Young Global Board. His career prior to his leadership roles at Ernst & Young was as a corporate reconstruction professional for large and small businesses both within Australia and globally.

James is Chairman of The Smith Family and Forestry Corporation of NSW, and a director of Mirvac Limited, Fairfax Media Limited and Helloworld Limited. He is a member of the advisory boards of both Grant Samuel and the University of NSW School of Business, and a trustee of the Australian Cancer Research Foundation and the Vincent Fairfax Family Foundation.

Image of Nicholas Minogue, Deputy Chairman, Independent non-executive member, Audit Committee member

Nicholas Minogue

Deputy Chairman, Independent non-executive member, Audit Committee member

Appointed: 9/12/2014 to 8/12/2017

Qualifications: MA, MBA

Nicholas Minogue retired from Macquarie Group in 2009 after a banking career spanning 32 years. Nick was Head of Risk Management at Macquarie for 10 years and a member of the Executive Committee for nine years. Nick worked in trade finance and corporate banking in London and Hong Kong before joining Macquarie. Nick is also Chairman of Morphic Asset Management Pty Ltd, director of Social Enterprise Finance Australia, President of the Kangaroo Valley Arts Festival and a member of the NSW Aboriginal Land Council Economic Advisory Committee.

Image of Andrew Hunter, Managing Director & CEO Efic

Andrew Hunter

Managing Director & CEO Efic

Appointed: 1/9/2013

Qualifications: BEc

Andrew Hunter has had a career of more than 20 years in financial services.

Before joining Efic, Andrew held senior positions within Macquarie Group Limited. From 2008 to 2010, he was Macquarie Group London Office Head and Head of Macquarie Group Europe following a move to London in 2003 as head of Macquarie’s corporate advisory business.  From 2011 to mid 2012, Andrew was Co-Head of Macquarie’s Financial Institutions Group in Australia.

Andrew originally joined Macquarie as part of the bank’s acquisition of Bankers Trust Australia in 1999 and focused on debt financings, including arranging finance for infrastructure assets such as Sydney Airport.

In his 10 years at BT, Andrew worked in Australia and Hong Kong in credit and risk management, structured finance and debt origination.

Image of Bruce Brook, Independent non-executive member, Audit Committee Chair

Bruce Brook

Independent non-executive member, Audit Committee Chair

Term of appointment: 1/3/2010 to 28/2/2013 and 1/3/2013 to 29/2/2016

Qualifications: BCom, BAcc

Bruce Brook has over 30 years’ experience in finance across a wide range of public companies, including WMC Resources Ltd, ANZ Banking Group Ltd and Pacific Dunlop Ltd. Now a professional company director, Bruce is Chairman of Programmed Maintenance Services Ltd, and a director of Deep Exploration Technologies CRC, CSL Ltd, Boart Longyear Ltd and Newmont Mining Corporation.

Image of Annabelle Chaplain, Independent non-executive member, Audit Committee member

Annabelle Chaplain

Independent non-executive member, Audit Committee member

Term of appointment: 1/8/2013 to 31/7/2016

Qualifications: BA, MBA, FAICD

Annabelle Chaplain is an experienced company director of publicly listed and private companies. She spent her executive career as an investment banker working on a variety of transactions for public sector and large corporate clients. Currently a director of Downer-EDI Ltd and PanAust Ltd, she is also a director of a number of private companies including Keolis Downer Pty Ltd, a joint venture activity between Downer and Keolis SA. She is Chairman of Council for St Margaret’s Anglican Girls School and a member of the Queensland Advisory Council of the AICD.

Image of Denise Goldsworthy, Independent non-executive member

Denise Goldsworthy

Independent non-executive member

Term of appointment: 5/11/2014 to 4/11/2017

Qualifications: B.Met (Hons +Uni medal), FTSE, FAIM, GAICD

Denise is the founder of Alternate Futures Pty Ltd, a company that connects solutions to problems by addressing knowledge, cultural and system barriers. In practice this means connecting Australia’s research organisations, tech start-ups and industry.

Prior to this, Denise worked as an executive for Rio Tinto, with roles including CCO Autonomous Haul Trucks, Managing Director of Dampier Salt and Managing Director HIsmelt. Denise started her career at BHP Steel Newcastle.
Denise is also Chairman of ChemCentre WA; until recently, an Independent NED for Aquila Resources; a member of Council at Edith Cowan University; and a trustee for the Navy Clearance Diver’s Trust. Among Denise’s honours is being named the 2010 Telstra Australian Business Woman of the Year.

Image of Laura McBain, Independent non-executive member

Laura McBain

Independent non-executive member

Term of appointment: 9/12/2014 - 8/12/2017

Laura has overseen significant change, innovation and business growth since her appointment as General Manager of Bellamy’s in 2006 and subsequent appointment as Chief Executive Officer (CEO) in 2011 and Managing Director and CEO in 2014.

Laura has been a driving force in the company’s substantial growth and subsequent listing on the Australian Stock Exchange in August 2014. Laura’s time at the helm has overseen expansion into Asia via the setup of offices in Shanghai and Singapore.

Prior to joining Bellamy’s, Laura practised as an accountant and specialised in the areas of providing business advisory and taxation services. Laura holds a Bachelor of Commerce and in 2013 completed the IMD Leadership Challenge.

In 2013, Laura was named as the Telstra Tasmanian Business Woman of Year 2013 and she went on to be named the Telstra Australian Business Woman of Year for 2013 (Private and Corporate).

Image of Rick Sawers, Independent non-executive member

Rick Sawers

Independent non-executive member

Term of appointment: 9/12/2014 - 8/12/2017

Rick has over 43 years of commercial and international banking experience leading large frontline businesses in Australia, Japan, United Kingdom, Hong Kong the USA and has served on NAB’s Group Executive Committee since 2009. He has deep experience in risk governance, financial markets (including capital markets, funding, liquidity and fixed income, money markets, FX and interest rate risk management); trading, sales and treasury functions.

He is the Chairman and Director of Great Western Bancorp, Inc. Mr. Sawers is a member of the NAB Group Risk and Return Management Committee and a director of National Australia Group (Europe) Limited and Clydesdale Bank PLC. He is also a board member (and former chairman) of the Australian Financial Markets Association, a fellow of the Financial Services Institute of Australia, a graduate member of the Australia Institute of Company Directors and a life member of the Financial Markets Foundation for Children.

Image of Peter Varghese, Government  Board member, represents the Australian Government, non-executive member

Peter Varghese

Government Board member, represents the Australian Government, non-executive member

Qualifications: BA (Hons)
Appointed: 11/2/2013

Peter Varghese is Secretary of the Department of Foreign Affairs and Trade (DFAT). Prior to that, he has held the positions of Australia’s High Commissioner to India and was the Director-General of the Office of National Assessments. Mr Varghese has also previously held the roles of Senior Advisor (International) to the Prime Minister, Australian’s High Commissioner to Malaysia and has served overseas in Tokyo, Washington and Vienna. Mr Varghese was appointed an Officer in the Order of Australia (AO) in 2010 for distinguished service to public administration, particularly leading reform in the Australian intelligence community and as an adviser in areas of foreign policy and international security. 

Image of Jan Adams, Alternate Government member, represents the Australian Government, non-executive member

Jan Adams

Alternate Government member, represents the Australian Government, non-executive member

Appointed: 7/5/2013

Qualifications: BEc (Hons), LLB (Hons)

Jan Adams was appointed Deputy Secretary of the Department of Foreign Affairs and Trade (DFAT) in April 2013. Prior to that Jan was First Assistant Secretary of the DFAT, Free Trade Agreement Division (from March 2009) and Australia’s lead negotiator for China, Japan, Korea and India bilateral FTA negotiations. Between 2005 and 2008 Jan served as Ambassador for the Environment and Ambassador for Climate Change. Between 1993 and 1996 she worked as an Advisor to the then Minister for Trade and Minister for Industry, Science and Technology, Senator Peter Cook. Jan joined DFAT in 1999 as Assistant Secretary, APEC Branch.

Overseas, Jan has served as Minister Counsellor (Trade) in Washington (2000–2004) and has also worked in the Environment and Trade Directorates of the OECD in Paris.

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