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The former NAB executive and NSW premier has been named as chair of the Australian Business Growth Fund, following the departure of inaugural chair Will Hodgman.
Treasurer Josh Frydenberg has confirmed that the shareholders of the Australian Business Growth Fund (BGF) have agreed to appoint Mike Baird as chair of the BGF.
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The $540-million Australian Business Growth Fund provides patient equity funding to growing small and medium-sized businesses, ensuring they have the access to the capital they need to grow. The Commonwealth government is a shareholder in the fund, alongside ANZ, the Commonwealth Bank, the National Australia Bank, Westpac, HSBC and Macquarie.
Mr Baird, who served as the premier of NSW from 2014 to 2017 and was in senior positions in the investment and commercial banking sector (most recently at NAB), takes over from Will Hodgman, the inaugural chair (and former Premier of Tasmania) who has stepped down. It is not yet known the reason for Mr Hodgman’s departure from the role, which he stepped into in April of this year.
Mr Baird joins his former colleague, Anthony Healy (the former chief customer officer, business and private banking, at NAB who stepped down earlier this year), at the helm of the BGF.
Mr Healy was named inaugural chief executive officer of the BGF last month.
Treasurer Josh Frydenberg noted the appointment of Mr Baird and highlighted his “wealth of experience”.
Mr Frydenberg added: “The government thanks Mr Hodgman for his contribution during the formative stages of the fund’s development and wishes him well in his future endeavours.”
[Related: Further details of the Australian Business Growth Fund revealed]
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