Dominic Perrottet appointed to TCorp Board
Saturday, 28 June 2025
Treasurer Daniel Mookhey has appointed former NSW Premier Dominic Perrottet to the board of TCorp, the Government’s borrowing and investment authority.
The announcement comes as the Minns Labor Government detailed in this week’s Budget the expansion of its OneFund investment strategy to cover more than $62 billion in funds under management.
Since its inception on August 31, 2024 to May 31 this year, OneFund generated $3.6 billion. This was a return of 6.7 per cent, compared with its objective of 5.4 per cent. The OneFund strategy is expected to return an extra $2.2 billion over the next four years, compared to the previous approach.
TCorp is also getting set to refinance billions of dollars of debt the state borrowed to respond to the COVID-19 pandemic at a turbulent time in global bond markets.
Mr Perrottet, BHP’s USA-based Head of Corporate and External Affairs, was NSW Premier from 2021 to 2023 and Treasurer from 2017 to 2021. Before that he was Minister for Finance, Services and Property from 2014 to 2017.
NSW Treasurer Daniel Mookhey said:
“I am honoured to appoint Dominic Perrottet to the Board of TCorp, one of the state’s most important economic institutions.
“By the end of the decade, TCorp will be managing hundreds of billions of dollars of assets and liabilities for the people of NSW. So it’s important that its governance stays above politics.
“Mr Perrottet’s years of service as Finance Minister, Treasurer and Premier adds even more heft to TCorp’s Board. I look forward to working with him in his new role.”
Former NSW Premier Dominic Perrottet said:
“Joining the TCorp board is an opportunity to continue serving the people of NSW by helping deliver strong returns on the state’s sovereign investments and securing the best value on its borrowings.”
TCorp Chair Michael Dwyer said:
“Mr Perrottet is highly experienced and deeply familiar with TCorp’s role as the financial services partner to NSW. We welcome him to the Board and look forward to his contribution to the strategic direction and oversight of TCorp.”
