The Senior Fellow who has had a three-decade association with FINSIA, having been a member of both predecessor bodies: the Australasian Institute of Banking and Finance and the Securities Institute of Australia, will be leaving his role in October.
“His commitment to professionalism and FINSIA has been exemplary,” said Mr El-Ansary F FIN.
“I know that Wayne has played a significant and long-term role in supporting our work across the financial services industry, which in many areas seen a shared vision with his work as the head of APRA.
“As he said at The Regulators in May, it’s no secret that he is a long-time member and we’re delighted that is the case.
“Wayne has made a tremendous and enduring contribution to the Australian economy, and his consistent view of the importance of well-functioning markets, ethical conduct and professionalism appropriately sum-up his commitment to the work he has done throughout his career so far.”
Tributes to Mr Byres, who has also been the Chair of APRA for the past eight years, have come from government and across the industry.
Treasurer The Hon Jim Chalmers MP said: “I thank Mr Byres for his outstanding contribution to APRA and his dedicated service to Australia. He’ll be greatly missed but I wish him well.
“Throughout a long and distinguished career, Mr Byres has made a significant contribution to the Australian financial system and the global framework for prudential regulation.
“His leadership and expertise has positioned the Commonwealth to respond well to some of the greatest challenges in Australia’s history - most recently in ensuring the stability of the financial system during the COVID-19 pandemic.”
ABA Chief Executive Anna Bligh said that Mr Byres’ leadership over the past eight years has increased the safety and stability of Australia’s financial system over the long term, ensuring it is “unquestionably strong.”
“Over the past eight years, Mr Byres has provided a steady hand and strong leadership, both in Australia and internationally, particularly through the very stormy economic waters of recent times. He has made an invaluable contribution,” Ms Bligh said.
COBA acknowledged outgoing APRA Chair Wayne Byres’ significant contribution to banking regulation in Australia.
“On Wayne’s watch, APRA has become more conscious of examining where and how the regulatory burden falls,” said COBA CEO Michael Lawrence.
Just over a year ago, Wayne took part in a Q&A talking about his membership of FINSIA, which can be accessed here.
Reflecting on the reason he joined in that article, he said: “I joined early in my career, as a way of furthering my education and professional knowledge. As someone starting their career I gained a lot from education services, events, publications, and alike.”
Referring to criticisms made by the Royal Commission and the impact of the pandemic, he said: “I think we’ve seen positive signs that the industry very much understands it has to operate with more than the short-term interests of shareholders in mind.
“COVID-19 has given the financial industry a chance to demonstrate that, and it’s done a good job in my view – whether it’s granting borrowers loan repayment deferrals, delaying insurance premium rises, or facilitating prompt access to superannuation monies in times of need.
“The financial sector has stepped up to the plate to use some of its financial strength to support the community in a time of crisis. There has been a ready acceptance that that’s been the right thing to do, regardless of the impact on the P&L.”
