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, Tourism 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 seven 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.

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James M Millar AM

Chairman, Independent non-executive member

Term of appointment: 9/12/2017 - 8/12/2020

Qualifications: B.Com, FCA, FAICD

James Millar AM 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 Forestry Corporation of NSW. He is a director of Mirvac Limited, Fairfax Media Limited and Macquarie Media Limited. He is a member of the advisory board of Grant Samuel; a trustee of the Australian Cancer Research Foundation; and the Chairman of The Vincent Fairfax Family Foundation.

Swati Dave

Managing Director and CEO Efic

Appointed: 3/7/2017

Qualifications: BCom, GAICD, GAIST

Swati Dave is an experienced senior banking executive and non-executive director with an established track record of successfully leading and growing complex P&L businesses in Australia, the UK, Hong Kong and Singapore.

Swati has over 30 years’ banking and finance experience across a number of sectors including infrastructure, energy and utilities, renewable energy and property. She has held senior positions at National Australia Bank, Deutsche Bank, AMP Henderson Global Investors, Bankers Trust and Westpac.

Swati currently serves on the boards of State Super and Asia Society Australia. She has served as a former director of Australian Hearing, Great Western Bancorp Inc. (USA) and the NAB Wealth Responsible Entity Boards.

Swati holds a Bachelor of Commerce from the University of Newcastle and is a Graduate Member of the Australian Institute of Company Directors and the Australian Institute of Superannuation Trustees.
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Lynda Cheng

Independent non-executive member

Term of appointment: 13/05/2016 to 12/05/2019

Qualifications: B.Com, LLB (Hons), GAICD

Lynda is currently Director of Corporate Development and Mergers and Acquisitions at Pratt Holdings and has held other senior executive roles for the Pratt Group since 2005 including CFO of Visy Industries. Previously, Lynda was in investment banking for a decade and worked for JPMorgan in their New York, San Francisco, Sydney and Melbourne offices. She brings a broad commercial and international corporate finance perspective.

Lynda was Deputy Chair of South East Water and Chair of their Finance Audit and Risk Management Committee and is a current member of the Wesley College Council.

Lynda holds a Bachelor of Law (Honours) and Commerce majoring in actuarial studies and economics from the University of Melbourne.

Denise Goldsworthy

Independent non-executive member, Audit Committee Member

Term of appointment: 9/12/2017 - 8/12/2020

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

Denise is the founder of Alternate Futures Pty Ltd, a company that connects innovation 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, Chairman of Minerals Research Institute of WA(MRIWA), a Non-executive Director for Western Power, a member of Council and Chair of the Quality, Audit and Risk Committee at Edith Cowan University, a member of the Commercialisation Advisory Board for Curtin University and Chair of the Board of Trustees for the Navy Clearance Diver’s Trust. Among Denise’s honours is being named the 2010 Telstra Australian Business Woman of the Year.

Laura McBain

Independent non-executive member, Audit Committee Member

Term of appointment: 9/12/2017 - 8/12/2020

Qualifications: B.Com

Laura McBain is the managing director of Primary Opinion Ltd, a listed food and beverage company. This appointment was made in early August 2017.

Laura was formerly the CEO and Managing Director of Bellamy’s Australia Ltd from 2014 to 2017, prior to which she was CEO/General Manager of the Tasmanian based SME since 2007. During these years, Laura oversaw significant change, innovation and business growth including expansion into South East Asia and China.

Prior to joining Bellamy’s, Laura practised as an accountant and specialised in the areas of providing business advisory and taxation services to SME in both Sydney and Tasmania. Laura holds a Bachelor of Commerce, completed the IMD Leadership Challenge in 2013 and completed the IESE, Wharton and CEIBS Global executive program in 2017.

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).

Rick Sawers

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

Term of appointment: 9/12/2017 - 8/12/2020

Rick has over 44 years of commercial and international banking experience leading large frontline businesses in Australia, Japan, United Kingdom, Hong Kong and the USA and served on NAB’s Group Executive Committee, (2009-15) and Group Risk Committee , (2005-2015). He has deep experience in Treasury and Balance Sheet management, Credit, Market and Operational Risk, business administration and governance, financial markets (including capital markets, funding, liquidity ,fixed income, money markets, FX and interest rate risk management), infrastructure and project finance, and Human resources.

Rick is a director of The Australian Rural Leadership Foundation and previous board positions include Chairman and board member of the Australian Financial Markets Association, Chairman and Director of Great Western Bancorp Inc, and Director of Clydesdale Bank PLC. He is a fellow of the Financial Services Institute of Australia, a graduate member of the Australian Institute of Company Directors and a life member of the Financial Markets Foundation for Children.

Frances Adamson

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

Appointed: 13 September 2016

Qualifications: B.Ec

Frances Adamson took up her position as Secretary of the Department of Foreign Affairs and Trade on 25 August 2016.

Prior to her appointment as Secretary, Ms Adamson was International Adviser to the Australian Prime Minister the Hon Malcolm Turnbull MP from November 2015.

From 2011 to 2015 Ms Adamson was Ambassador to the People’s Republic of China. She served in the Australian Consulate-General in Hong Kong in the late 1980s during the early years of China’s reform and opening. From 2001 to 2005, she was seconded as Representative to the Australian Commerce and Industry Office in Taipei.

Ms Adamson has twice served in the Australian High Commission in London, as Deputy High Commissioner from 2005 to 2008 and as Political Counsellor from 1993 to 1997.

She was Chief of Staff to the Minister for Foreign Affairs and then the Minister for Defence from 2009 to 2010.

She is married with four children.

Justin Brown

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

Qualifications: B.Ec
Appointed: 22 September 2015

Justin Brown is a career officer in the Australian Department of Foreign Affairs and Trade. In his current position, he has overall responsibility for Australia’s trade negotiations and trade and investment policy agenda.

Mr Brown has held a number of positions in the Department over the course of his career, including Ambassador for Environment, chief negotiator in free trade negotiations, and has held positions with responsibility for trade law and disputes in the WTO and bilateral relations with the countries of the Americas and Europe. He has also headed the Department’s consular and crisis management division.

Overseas, his most recent posting was to Canada as High Commissioner. He has also had postings in Brussels, Los Angeles and Copenhagen.

He holds a Bachelor of Economics degree.