IAG chief financial officer William McDonnell has been appointed chair of the Australian Sustainable Finance Institute, effective 16 March, according to a media release on Monday. He succeeds Kristian Fok, chief executive of Cbus Super, who has chaired ASFI since its establishment in 2021 and helped build its governance and strategic foundations.
McDonnell brings a long career spanning insurance, banking, regulation and carbon markets. He joined IAG as CFO in December 2023 after serving as chief operating officer of the Integrity Council for the Voluntary Carbon Market.
Earlier in his career, McDonnell spent over 15 years at RSA Insurance Group, including as group chief risk officer, and also held roles at HSBC, Aviva, the Bank of England and Deloitte. He was a founding member of the Bank of England’s Climate Financial Risk Forum and chaired RSA’s ESG committee.
ASFI chief executive Kristy Graham said McDonnell brings “extensive experience in financial services including insurance, banking and regulation, as well as an international perspective on the role finance plays in supporting the transition to a resilient and sustainable economy”.
“Australia is facing growing climate risk, and the financial system has a critical role to play in supporting communities and the economy to adapt,” McDonnell said. “ASFI plays an important part as an independent institution working closely across the financial system and policy community to help translate emerging risks and opportunities into practical, coordinated action.”
