Board members are appointed by the Governor in Council, pursuant to section 10(2) of the Queensland Treasury Corporation Act 1988 on the recommendation of the Treasurer and in consultation with the Under Treasurer. Members are chosen on their ability and commitment to contribute to QTC’s performance and achievement of its stated objectives.

	SIR LEO HIELSCHER AC BComm, D Univ Griffith (Hon), AAUQ, AASA, FAIM, FCPA, FFTP (Hon) Chairman Appointed 1991. Tenure 30 June 2010. Board Committees Chairman, Human Resources Committee Member, Risk Management Committee Sir Leo Hielscher has over fifty years’ experience in the areas of Government, the banking and finance industry, domestic and global financial markets, superannuation industry and as an independent company director. He was the Under Treasurer of Queensland for 14 years (1974–1988) before his appointment as Chairman of the Queensland Treasury Corporation (Advisory Board) in 1988. In 1991, the Advisory Board became the Queensland Treasury Corporation Board and Sir Leo was appointed as its inaugural Chairman. Sir Leo is also Chairman of Austsafe Ltd, Independent Superannuation Preservation Fund, and the Queensland Government Health Reform Advisory Panel, and a Director of the American Australian Association Ltd. As a company director, Sir Leo has considerable experience at board level and has been associated with a number of public and private sector boards. Sir Leo was awarded an Eisenhower Fellowship in 1973, a Knight Bachelor in 1987, an Honorary Doctorate of Griffith University in 1993, and a Companion in the Order of Australia (AC) in the General Division in 2004. He was honoured as a Queensland Great by the Queensland Government in 2007.
	TIM SPENCER BSC (Econ) (Hons) Deputy Chairman Appointed July 2007. Tenure 30 June 2011. Board Committees Member, Risk Management Committee Member, Accounts and Audit Committee Member, Human Resources Committee Tim Spencer is the Deputy Under Treasurer of the Queensland Treasury Department, a position he has held since 2001. In this role, he has worked extensively with Queensland’s government owned corporations on various commercial and major infrastructure projects including full retail contestability for gas and electricity, the sale of the State’s retail energy assets, and new institutional arrangements for urban water supply transaction. Mr Spencer has previously held other senior management and executive positions in the public sector in Queensland, South Australia and the Australian Capital Territory, where his responsibilities have spanned economic policy research and development, establishment of market arrangements and the long-term leases of electricity assets, restructuring of government owned electricity businesses, investment and borrowing activities, and implementation of National Competition Policy. He is also a Director of Queensland Motorways Ltd.
	GILLIAN BROWN LLB (Hons ), Grad Dip Applied Finance and Investment, SIA Appointed July 2004. Tenure 30 June 2011. Board Committees Chairman, Risk Management Committee Gillian Brown has more than 18 years’ experience as a specialist finance lawyer and has gained extensive corporate, financing and major project experience. She is national Chairman of Minter Ellison Lawyers and a partner of the firm in Queensland (admitted as partner 1994), heading the finance practice. Ms Brown’s principal areas of practice include corporate finance, investment and financial services, financial markets, project/infrastructure finance, and property finance. Ms Brown has advised government bodies on a number of project and transactional arrangements and has an indepth knowledge of the mechanics of government and its objectives. Ms Brown is also a Director of Dalrymple Bay Coal Terminal Holdings Pty Ltd, and a committee member of the Law Council of Australia.
	MARIAN MICALIZZI BBus, FCA, SIA (Associate ) Appointed July 2000. Tenure 30 June 2010. Board Committees Member, Accounts and Audit Committee Member, Risk Management Committee Marian Micalizzi is a chartered accountant with more than 20 years’ experience, a company director and a consultant in both the public and private sector. Ms Micalizzi is a former partner of PricewaterhouseCoopers (until 2000) having been admitted as a partner of the predecessor firm in 1986. Ms Micalizzi brings considerable expertise and knowledge of specialist corporate financial and advisory services, financial institutions’ regulation and prudential supervision, and valuation related assessments. She is also a director of Queensland Investment Corporation, Opera Queensland, Australian Reinsurance Pool Corporation; a member of Corporations and Markets Advisory Committee, The Takeovers Panel, the Independent Investment Committee of Queensland Development Fund, the Queensland Government’s Service Delivery and Performance Commission, and the Sunsuper Audit Committee, and a Councillor of the Australian Institute of Company Directors (Qld Div.).
	BILL SHIELDS B Econ (Hons), M Ec Appointed July 2004. Tenure 30 June 2011. Board Committees Chairman, Accounts and Audit Committee Member, Risk Management Committee Bill Shields has considerable experience in the banking and finance industry as well as government policy advice, specialising in economics. His career responsibilities included economic and financial market research in Australia and overseas, and providing analytical and strategic advice on the Australian financial system and monetary policy, Australia’s exchange rate arrangements and international financial developments. Mr Shields was previously Chief Economist and Executive Director, Macquarie Bank Limited (1987–2001). In addition to Macquarie Bank, he has held positions with the Reserve Bank of Australia (1983–1985), the International Monetary Fund (1973–75 and 1977–83) and the Commonwealth Treasury. Mr Shields is a Visiting Professor of Macquarie Graduate School of Management, Macquarie University; a Director of (and Chair, Audit and Compliance Committee) M-co International Limited; and Chairman of the Australian Pacific Economic Cooperation Committee.
	SHAUNA TOMKINS BSC, MBA Appointed July 2000. Tenure 30 June 2010. Board Committees Member, Risk Management Committee Member, Human Resources Committee Shauna Tomkins is a principal of Promontory Financial Group Australasia, who works internationally in the development and implementation of regulatory frameworks for prudential supervision and corporate regulation of deposit taking, funds management, insurance and lending institutions. Ms Tomkins has a thorough understanding of Australia’s financial system, risk management analysis, prudential supervision and corporate and structured finance. She also has a strong background in long-term policy and strategic management and planning, and has an indepth understanding of Government objectives and processes. Ms Tomkins is also a member of the Advisory Committee to Queensland’s Motor Accident Insurance Commission. JOHN DAWSON AM B Arts, Grad AMP(Uni Hawaii), FAICD Appointed September 2008. Tenure 30 June 2011. Board Committees Member, Risk Management Committee John Dawson AM has more than 36 years’ experience in the banking and finance industry, and held the position of Chief Executive Officer for the Bank of Queensland (1996–2001) and senior positions with the National Australia Bank, National Australia Group (United Kingdom) and Australia–Japan International Finance. Throughout his career he has played integral roles in steering the strategic direction of various banks in Australia, Asia and the UK. From 2001–2007, Mr Dawson was Agent General for Queensland and Commissioner Europe, Russia and Africa for the Queensland Government. He was responsible for the promotion and maintenance of Queensland trade and investment interests, and government-to-government and government-to-business relations in these regions. Mr Dawson has held a number of board positions including chairman of Australian Bankers Association Executive Committee, the Australian Banking Ombudsman Scheme and the Queensland Government’s Red Tape Reduction Task Force; Director of the Clydesdale, Yorkshire, Northern and National Irish Banks, the Brisbane Institute, and the Britain–Australia Society; Board Member of Bank of Hawaii International; and a member of the Premier of Queensland’s Business Advisory Group, the Advisory Board to the QUT School of Business, and the UK Australia Leadership Forum 2003. He has also been an adviser to the German Government’s ‘Invest in Germany’ program and is a Freeman of the City of London.