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QTC Board

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.

Damien Frawley

Chair

Board committees

  • Member, Advisory and Consulting Committee
  • Member, People and Culture Committee
  • Member, Risk and Audit Committee

Damien Frawley has more than 35 years’ experience in the financial services sector, both domestically and internationally. From 2012 to 2022, he was the Chief Executive of Queensland Investment Corporation (QIC), responsible for more than $100 billion in assets under management for a range of government, domestic and global institutional investors.

Prior to QIC, Mr Frawley was Blackrock’s Australian Managing Director and Chief Executive Officer from 2010 to 2012, after joining as its Head of Institutional and Retail in 2007. He also held senior roles at Merrill Lynch Investment Management, Barclays Global Investors and Citibank.

Mr Frawley is also the Independent Chair of Hostplus, a Non-Executive Director of Mirvac Group, a Director of Blue Sky Beef, and a Non-Executive Director of Elders Limited.

Paul Williams

Board committees

  • Member, Funding and Markets Committee

Paul Williams commenced as Under Treasurer in February 2025. He is an experienced senior executive with more than 25 years’ experience in the banking and finance sector. He has held Board and Committee positions across funds management, hospitality, sport and the not-for-profit sector.

Most recently he was the Chief Financial Officer with People First Bank and has previously held executive roles in strategy, finance and investment with Arthur Anderson, Heritage Bank and the Bank of Queensland.

Mr Williams is also Chair of the State Investment Advisory Board, a member of the Economic Development Queensland, and South Bank Corporation Boards, and the President of the Tattersalls Club.

Berkeley Cox

Board committees

  • Member, Advisory and Consulting Committee
  • Member, Funding and Markets Committee
  • Member, Risk and Audit Committee

Berkeley has almost 40 years’ experience in the law, including 24 years as a partner of King & Wood Mallesons. He served as its Australian Chief Executive Partner from 2017 to 2022. In practice, his focus for most of his career was debt capital markets, structured finance and derivatives.

With both legal and commercial skills, Berkeley currently spends much of his time respectfully and actively supporting First Nations’ Community controlled organisations (at local, jurisdictional and national levels) in a manner consistent with the priority reforms in the National Agreement on Closing the Gap. Berkeley is a member of the Board of Trustees of Brisbane Girls Grammar School and has previously served on the boards of Act for Kids, Corporate Mental Health Australia Alliance and Workplace Giving Australia.

Tricia Ho-Hudson

BEC, LLB (HONS), LLM, M APP FIN, STONIER DIP BANKING, GAICD, CTA

Board committees

  • Member, Advisory and Consulting Committee
  • Member, Funding and Markets Committee
  • Member, Risk and Audit Committee

Tricia Ho-Hudson is an experienced finance executive, specialising in treasury and balance sheet management. She spent 15 years in leadership roles at ASX10 companies including the Commonwealth Bank of Australia, Woolworths Group and Wesfarmers. Prior to that, she was an investment banker and lawyer advising large listed and private companies.

Tricia has a strong history of contributing her finance and risk skills to the not-for-profit sector. She is Deputy Chair of Spare Parts Puppet Theatre which tours nationally including to regional Queensland, and a Board member of national charity The LBW Trust. She is a member of the Board of Advice to the Discipline of Accounting, Governance and Regulation at the University of Sydney.

Steve Johnston

BBUS (MGT), BBUS (PUB ADMIN)

Board committees

  • Member, People and Culture Committee

Steve Johnston was appointed as Chief Executive Officer and Managing Director of Suncorp in September 2019.

Steve joined Suncorp in 2006 and has held various executive positions. Prior to his appointment, Steve was the Suncorp Group Chief Financial Officer with responsibility for financial reporting and management, legal and company secretariat, taxation, investor relations, corporate affairs and sustainability. Steve’s previous roles include Deputy Chief Financial Officer and Executive General Manager Investor Relations and Corporate Affairs. Prior to joining Suncorp, Steve held senior positions at Telstra and the Queensland Government.

Steve joined the Insurance Council of Australia Board as a Director in August 2021 and commenced his term as Chair in January 2025.

Karina Kwan

BEC (USYD), FINSIA GRAD DIP APPLIED FINANCE, FELLOW CPA, GAICD

Board committees

  • Member, Funding and Markets Committee
  • Member, People and Culture Committee
  • Member, Risk and Audit Committee

Karina has over 35 years’ experience in financial services, particularly banking, with specialist financial accounting and treasury risk management skills.

Prior to embarking on a Board portfolio, her executive roles included Corporate Treasurer, Financial Controller and Chief Financial Officer of Citi Australia & New Zealand and Chief Financial Officer/General Manager of the corporate centre divisions of the Commonwealth Bank of Australia.

Karina is currently a director of HSBC Bank Australia Limited, Export Finance Australia and WAM Active Limited, part of the Wilson Asset Management group. Her prior Board directorships include: Trustee of the MLC superannuation funds, Newcastle Permanent Building Society and anti money laundering compliance data provider Kyckr Limited. Karina also teaches as an Adjunct Professor within the Discipline of Finance at the University of Sydney Business School.

Dr Natalie Smith

BSC (COMP SC & MATHS), M HR & ORG DEV, RESEARCH MASTERS FLEX WORK PRAC, PHD GOV DIGITAL TRANS

Board committees

  • Chair, Advisory and Consulting Committee
  • Member, People and Culture Committee

Dr Natalie Smith has over 30 years’ experience in technology and transformation consulting, predominantly in financial services and government. She has a combination of executive, corporate governance and academic expertise in digital and transformational projects.

Dr Smith is currently an Associate Professor of Practice at the University of Queensland. Her governance roles include Deputy Chair of UnitingCare Queensland and a member of St John of God Health Service Digital, Information and Technology Committee.

Previously, Dr Smith was an Associate Professor of Practice at the University of Sydney, a partner in Deloitte’s Risk Advisory practice, Deputy Chair of Mercy Community Services, and a member of the Financial Investment and Property Board for the Uniting Church in Queensland.

Karen Smith-Pomeroy

ADIP (ACCOUNTING), GAICD, FIPA, FFA, SFFIN, GIA (AFFILIATE)

Board committees

  • Chair, Risk and Audit Committee
  • Member, Advisory and Consulting Committee
  • Member, Funding and Markets Committee

Karen Smith-Pomeroy is an experienced financial services senior executive with a specialty in risk and governance.

Ms Smith-Pomeroy held senior executive roles with Suncorp Group Limited from 1997 to 2014, including as Chief Risk Officer of Suncorp Bank from 2009 to 2013, and Executive Director, Suncorp Group subsidiary entities from 2009 to 2014. She is an experienced director and committee chair with prior roles on a number of listed and unlisted company boards and committees.

Ms Smith-Pomeroy is currently Chair of Regional Investment Corporation, and a Non-Executive Director of National Reconstruction Fund Corporation. She is also Chair of the Queensland Department of State Development, Infrastructure and Planning Audit and Risk Management Committee, Chair of the Queensland Department of Resources and Mines, Manufacturing and Regional and Rural Development Audit and Risk Committee, and a member of the Audit and Risk Management Committees for the Queensland Department of the Premier and Cabinet and Public Sector Commission, and South Bank Corporation.

Rosemary Vilgan

BBUS, DIP SUPN MGT, FAICD, FASFA

Board committees

  • Chair, People and Culture Committee
  • Member, Advisory and Consulting Committee
  • Member, Risk and Audit Committee

Rosemary Vilgan is an experienced non-executive director, with specific expertise in financial services and business leadership and transformation. She was the Chief Executive of QSuper, a global financial services business with $90 billion in accounts, from 1998 until 2015.

She is currently Chair of Vincent Fairfax Family Foundation, a member of the Cambooya Investment Committee, and a member of the Future Fund Board of Guardians. Ms Vilgan’s former roles include Chairperson of the Federal Government’s Safety, Rehabilitation and Compensation Commission, a member of the Board of the Children’s Hospital Foundation (Qld), a member of the Board of the Guardians of New Zealand Superannuation, and a Queensland Council member of AICD. She is a former Councillor, Deputy Chancellor and Chairperson of the Audit and Risk Committee at Queensland University of Technology (QUT), and a former Director and Chair of the Board of the Association of Superannuation Funds of Australia (ASFA).

In 2013, Ms Vilgan was named the Telstra Australian Businesswoman of the Year.

John Wilson

BA LLB, LLM, MA

Board committees

  • Member, Funding and Markets Committee
  • Member, People and Culture Committee

John Wilson has more than 35 years’ experience in investment and capital markets. Mr Wilson was most recently a Senior Advisor and Managing Director at Goldman Sachs Asset Management. He spent the majority of his executive career at the fixed interest manager, PIMCO.

Mr Wilson currently serves as a special advisor to Brighter Super, a consultant to Blue Owl Capital and as a Director of Jacobs Williams Pty Ltd. His previous directorships include Ord Minnett, QIC, LGIASuper, Etihad Stadium, Rugby Australia and the UNE Foundation. He was Chairman of the Australian Rugby Foundation and Chairman of the NSW Aboriginal Lands Council Investment Committee.