Queensland Under Treasurer Leon Allen has been appointed as the new Chief Executive Officer of Queensland Treasury Corporation.
Announcing the appointment, which was conducted by the QTC Board and undertaken by an executive search firm, Treasurer and Minister for Trade and Investment Cameron Dick said Mr Allen's experience in Queensland and internationally made him the ideal candidate.
"When governments and institutions across Queensland need to invest in future growth, QTC is their window to the world," the Treasurer said.
"Leon has been an integral part of Queensland's world-leading economic response to COVID-19, which has put our state in a position to seize opportunities for future growth.
"His guidance of Treasury has played an important role in restoring the strength of Queensland's balance sheet post-pandemic."
Mr Allen was appointed Under Treasurer in September 2021, having been Deputy Under Treasurer since May 2020.
This followed 13 years with the Commonwealth Bank, including four years based in New York as its Managing Director for the Americas.
QTC Chair Damien Frawley said Mr Allen's experience with global financial markets and the public sector will ensure QTC can harness the significant financial opportunities that lie ahead for Queensland.
"Leon's expertise and calibre are the ideal fit to grow the solid foundations that have been built over QTC's 35-year history," Mr Frawley said.
"The next decade presents an incredibly exciting time for Queensland and QTC with many catalytic projects to deliver across the Queensland Government's portfolios."
Mr Allen thanked the QTC Board for their support and said he looked forward to working with them and QTC staff to keep delivering great outcomes for the people of Queensland.
"In Treasury it has been great to be part of a team helping to drive Queensland's economic strength and growth," Mr Allen said.
"We have worked hard across government and in support of the private sector to deliver jobs-generating investment and financially sustainable outcomes.
"It has been my privilege to also have been a Government Champion for Pormpuraaw and to have been involved in Treasury's support for the Queensland Government's Path to Treaty.
"This is a significant reconciliation step."
The Treasurer thanked Mr Allen for his work on a number of significant Treasury achievements in recent years.
"Leon was pivotal in Treasury's lead role in developing the Queensland Energy and Jobs Plan," the Treasurer said.
"His delivery of the Savings and Debt Plan and during his tenure we have established vehicles to cater for Queensland's future development including the Housing Investment Fund and Debt Reduction Fund.
"I also want to thank former QTC CEO Philip Noble for his long and dedicated service to Queensland, and QTC board member Neville Ide for serving as QTC's interim Chief Executive."
Deputy Under Treasurer Maryanne Kelly will be Acting Under Treasurer while a recruitment process to replace Mr Allen is undertaken.
