Revolving Doors

Joe Hockey

Joe Hockey

Liberal Party | Revolving Doors

Hockey has accepted a position with Macquarie Group’s US arm helping with renewable energy acquisitions. Hockey had considerable interactions with Macquarie Group directors and executives throughout his tenure as Treasurer between 2013 and 2015 as well as throughout his time as Ambassador to the US between 2015 and 2020.

Current Positions

Macquarie Group, Special Advisor to Renewable Energy Business, May 2020 – Present

Bondi Partners, Founding Partner and President, Feb 2020 – Present

Sky News, Political Contributor (US), June 2020 – Present

Previous Positions

Ministerial appointments:

Minister for Financial Services and Regulation from 21.10.1998 to 26.11.2001.

Minister for Small Business and Tourism from 26.11.2001 to 26.10.2004.

Minister for Human Services from 26.10.2004 to 30.1.2007.

Minister Assisting the Minister for Workplace Relations from 10.8.2006 to 30.1.2007.

Minister for Employment and Workplace Relations from 30.1.2007 to 3.12.2007.

Minister Assisting the Prime Minister for the Public Service from 30.1.2007 to 3.12.2007.

Cabinet Minister from 30.1.2007 to 3.12.2007.

Cabinet Minister from 18.9.2013 to 21.9.2015.

Treasurer from 18.9.2013 to 21.9.2015.

Public Service:

Australian Ambassador to the United States of America, 2016– 2020


Banking and finance lawyer, Corrs Chambers Westgarth, before entering parliament

Revolving Door

Joe Hockey said in 2018 that Australians still underappreciate how successful and respected Macquarie and former Macquarie Group CEO Nicholas Moore are in international markets. “They are a flag bearer,” he says.

Joe Hockey and Shemara Wikramanayake, managing director and chief executive of Macquarie Group Ltd, and Michael Silverton, Global Co-Head of Macquarie Capital, attended a state dinner honouring Australian Prime Minister Scott Morrison in Washington in 2019.

  • Shemara Wikramanayake, has been named as a suspect in a German investigation into short-selling activities.

As a part of Scott Morrison’s US State visit in September 2019,  Joe Hockey held a $45,000 garden party in which Shemara Wikramanayake, managing director and chief executive of Macquarie Group Ltd, and Michael Silverton, Global Co-Head of Macquarie Capital, were guests.

Jillian Broadbent, former Reserve Bank of Australia board member, Chair of the Board of Clean Energy Finance Corporation (CEFC), director of ASX Limited, SBS, Coca Cola Amatil, Woodside Petroleum, Qantas and Westfield Management Ltd and current Macquarie Group board member, had interactions with then Treasurer Joe Hockey in 2012 regarding  an independent review into its Clean Energy Finance Corporation (CEFC) led by Broadbent.

  • Broadbent said at the time “’I think we probably all know more Liberal Party people than we do Labor people,” Broadbent said from her eyrie in Sydney’s Chifley Tower, where she is a ”special consultant” for Anglo-South African investment bank Investec. ”If the bipartisan mood existed, everyone would be very excited about what the CEFC was doing.”

In July 2015, 2 months before his departure from Parliament, Hockey appointed Nicola Wakefield Evans, who was the Independent Voting Director of Macquarie Bank since February 2014 and current board member of Macquarie Group to the Takeover Panel.

  • The Australian Takeovers Panel is a statutory authority of the Australian Government made up of is a peer review body, made up of part-time members from the Australian investment banking, legal, accounting and business communities whose purpose is to resolve disputes about a corporate takeover bid during the bid period itself.

Michael Coleman, current Macquarie Group board member was appointed Chairman of the Financial Reporting Council (FRC) in 2013 when Joe Hockey was instituted as Treasurer and reported to Joe Hockey when we have Treasurer between 2013 and 2015 and then left his position the same year Joe Hockey left the Treasury.

Related Items

The Department of Finance awarded Macquarie Capital a contract valued at $8,879,318.91 four months before Hockey retired from politics.

Joe Hockey will be replaced by former Liberal senator and John Howard’s long-time chief-of-staff Arthur Sinodinos who left his position as the Prime Minister’s Chief of Staff in 2006  to become a director with the investment bank Goldman Sachs JBWere, and a regional general manager at the National Australia Bank.

Glenn Stevens, former Governor of the RBA between 2006 to 2016 and current Macquarie Group board member, criticised Hockey’s decisions as Treasurer in 2013, yet ultimately agreed to an $8.8 billion funding injection into the RBA. In 2015 Stevens again commented on Hockey’s performance.

Voting Record:


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