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State Investment Advisory Board members

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 the State Investment Advisory Board’s performance and achievement of its stated objectives.

Michael Carey

Chair – Under Treasurer (ex-officio)

Appointed 2 October 2023

Michael was appointed as the Under Treasurer of Queensland in September 2023. Prior to this appointment, he served as Associate Director-General of the Cabinet Office and Chief Executive Officer of Trade and Investment Queensland (TIQ). Michael previously held senior roles at the Department of the Premier and Cabinet, Queensland Treasury, and the Department of State Development where he led strategic economic industry initiatives and major economic policies and programs across government. This included support for priority sectors such as infrastructure, energy, resources, water, transport, agriculture, tourism, and manufacturing.

Michael has a passion for public service and significant experience advising State and Federal government as well as working with the private sector.

Michael has a Master of Public Policy from the University of Oxford, a Bachelor of Arts and Law from the Queensland University of Technology, and a Bachelor of Commerce, Politics and Public Policy from Griffith University.

Philip (Phil) Graham

BA (ECON, HONS), MCOM (FIN, HONS), CFA, GAICD

Member – Independent

Appointed 4 July 2019

Phil Graham has extensive experience in investment management, financial markets, and economic policy. He is an independent member of the Lonsec Asset Allocation Committee and a consultant to AustralianSuper.

Mr Graham was Senior Portfolio Strategist and Deputy Chief Investment Officer at Mercer from 2007–2018. He also held senior roles at QIC and Access Capital Advisors, and prior to this he worked for the Reserve Bank of Australia and the ANZ Banking Group.

Mr Graham is a past-President of the CFA Society of Melbourne and was the Presidents Council Representative for the CFA Asia Pacific North and Oceania region in 2015–2019. He currently serves on the CFA Disciplinary Review Committee.

Brendan O'Farrell

MBA, GAICD, DipSM

Member – Independent

Appointed 21 September 2023

Brendan O’Farrell is an experienced Non-Executive Director. He has more than 25 years’ financial services experience in senior executive roles including as Chief Executive Officer and Chief Investment Officer with his most recent role as Chief Executive Officer (including Chief Investment Officer) of Intrust Super from 2005 to 2021. Brendan currently runs his own consulting business, Maple Tree Consulting Pty Ltd.

Brendan’s current directorships include TUH Health Fund, (Member of the Risk and Audit Committees), investLogan Pty Ltd, Broncos Leagues Club Pty Ltd, Stadiums Queensland (Chair of Strategy and Planning Committee and Member of the Remuneration Committee), Alternate Director of Queensland Rugby Football League Limited, Chair of CMBM Facility Services Advisory Board and a Member of the Public Trustee Advisory and Monitoring Board.

William Ryan

BBUS (BANKING AND FIN), GRAD CERT POLICY ANALYSIS

Member ­– Queensland Treasury (ex-officio)

Appointed 19 November 2020

William Ryan is the Head of Fiscal, Queensland Treasury, with responsibilities for managing the State’s budget and balance sheet, and ensuring the long-term sustainability of Queensland’s fiscal position. He forms part of Queensland Treasury’s Senior Leadership Team and serves as a member of the Queensland Government Insurance Fund Governance Committee.

Prior to his current role, Mr Ryan held senior leadership roles in Queensland Treasury over a 19-year career. These roles have included developing investment programs, financial assurance modelling, infrastructure program and economic policy analysis.

Wendy Tancred

BCOM CPA DIPFP CSM GRAD CERT MGMT FFIN FAICD

Member ­– Independent

Appointed 21 September 2023

Wendy Tancred has more than 35 years’ experience in the financial services industry, including banking, financial planning and superannuation. Following executive roles within AMP and Westpac she was the Chief Executive Officer of two superannuation funds and a trustee director.

Whilst also having Chief Executive Officer and director roles in other industries, the majority of Wendy’s career has been in highly regulated sectors, ensuring strong risk management and governance capability. She has deep investment expertise gained across multiple roles with a focus on long term drivers of sustainable outcomes.

Cate Wood AM

BSS, DIP FP, GAICD

Member – Independent

Appointed 7 July 2022

Cate Wood has more than 25 years’ experience in the superannuation industry. Ms Wood was Executive Officer and a Director of AGEST Super, a Director and Chair of CareSuper, a Director of SunSuper, and served on the Investment Committees of these funds.

Ms Wood was a Director of the Industry Superannuation Property Trust (ISPT) and a Member of the ACT Investment Advisory Board. She is currently a Member of the Professional Standards Councils and Chair of the Centre for Workers’ Capital.