Appointment to Foreign Investment Review Board

Mr Steven Skala AO is to be appointed as a part-time member to the Foreign Investment Review Board (FIRB) for a five-year period.

Mr Skala has a distinguished career of service including on the boards of private, not-for-profit and government organisations and has more than 35 years experience in the law, business and banking. He was appointed Chair of the Clean Energy Finance Corporation Board in 2017. He is the Vice Chairman Australia of Deutsche Bank AG, a position he has held since 2004. His role does not involve advising on foreign investment proposals.

Mr Skala is a former Chairman of Film Australia Limited, Wilson Group Limited, Hexima Limited, King Island Company Limited and Blue Chilli Technology Pty Limited. He is also a former Director of the Australian Broadcasting Corporation, the Channel Ten Group of Companies and Max Capital Group Limited. Prior to his banking career, he was a senior Partner at the law firm Arnold Bloch Leibler and Head of its Corporate and Commercial practice.

The FIRB is a non-statutory body established in 1976 to advise the Treasurer on the Government’s foreign investment policy and its administration. The FIRB’s functions are advisory only. Responsibility for the policy and for decision making on foreign investment proposals rests with the Treasurer of the day.

The Treasurer thanked outgoing FIRB member Ms Alice Williams for her outstanding contribution during her five-year term serving on the FIRB, where she played an important role in advising the Treasurer on a range of complex transactions.

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