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31 July, 2009

It looks like OzPolitik was correct when it forecast a shitstorm for Queensland sixteen days ago.

The intrigue continues in Queensland with the head of the Queensland Investment Corporation, Trevor Rowe, announcing his intention to resign at the end of his term in September. The Australian reports that Mr. Rowe had refused to comment but released a statement that he would not be seeking another term as head of the state owned QIC. The QIC manages $65 billion as well as running Queensland’s public service superannuation. He was appointed by Terry Mackenroth in 2001.

Andrew Fraser, the Queensland Treasurer had been advised of the decision two weeks ago. Surely it is a coincidence that the author of the article appears to go by the name of Andrew Fraser?

Mr. Rowe is chairman of lobbying firm Enhance Management, BrisConnections, Rothschild Australia and recently resigned as Chancellor of Bond University. He sits on the board of the ASX and the federal government’s Future Fund.

Ross Daley, the Queensland manager of Enhance Management resigned earlier this week after it came to light he had taken a secret commission of $1 million for shifting superannuation funds worth $100 million from Sunsuper to Trinity funds management group.

Will there be more to come?

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