The Honourable Peter Costello AC
Peter Costello (LLB (Hons) 1980, BA 1982) is the Managing Director and Chairman of boutique corporate advisory firm ECG Financial Pty Ltd. Prior to this he was Managing Director of corporate advisory firm BKK Partners Pty Ltd, a position he held for close to four years.
However, Mr Costello is best known as a former politician and in particular for his record term as the Treasurer of the Commonwealth of Australia, a position he held from March 1996 to December 2007. In total he served more than 19 years in Parliament.
As Treasurer Mr Costello was responsible for foreign investment policy, competition (anti-trust) policy, corporate regulation, superannuation, and tax policy. He also brought down 12 Federal Budgets..
Mr Costello set up Australia’s system of financial regulation. He also introduced Australia’s monetary policy targets by agreement with the Reserve Bank of Australia.
For more than a decade Mr Costello was a Governor of the World Bank and the Asian Development Bank. He was also a member of the Committee of the International Monetary Fund.
He has been Chairman of the Organisation for Economic Co-operation and Development Ministerial and the Asia-Pacific Economic Cooperation Finance Ministers and was involved in the establishment of the Group of Twenty (G-20).
Mr Costello has written for Australia’s Fairfax and News Limited papers and has been published in the Financial Times and The Wall Street Journal.
Mr Costello is currently a member of the Independent Advisory Board of the World Bank, which advises on transparency and anti-corruption measures, and a Guardian of Australia’s Future Fund. He is also on the boards of Nine Entertainment Co. and Allianz.
In 2011 Mr Costello was awarded a Companion of the Order of Australia "for eminent service to the Parliament of Australia, particularly through the development of landmark economic policy reforms in the areas of taxation, foreign investment, superannuation and corporate regulation, and through representative roles with global financial organisations".
In March 2012 he was announced as the head of the Queensland Government's Commission of Audit.