Fraser MP Daniel Mulino has been elevated to the frontbench as part of Prime Minister Anthony Albanese’s post-election re-shuffle.
Dr Mulino has been appointed assistant treasurer and financial services minister, replacing NSW MP Stephen Jones who announced his retirement prior to the election.
The promotion of Dr Mulino was expected after a factional power play by Deputy Prime Minister Richard Marles which resulted in ministers Mark Dreyfus and Ed Husic being dumped.
Mr Marles leads the Victoria Right faction of which Dr Mulino is a member and which insisted on extra frontbench positions following Labor’s thumping May 3 election win.
It’s the first ministerial position for Dr Mulino who has held the seat of Fraser since it was created at the 2019 federal election.
“Because he’s terrific” said Mr Albanese when asked why he’d promoted Dr Mulino at a press conference on Monday.
“He’s very well qualified for the job.
“He’s got a PHD in economics from Yale. That’s kinda handy.”
The appointment was welcomed by the The Financial Services Council (FSC), the peak body for the financial services industry which Dr Mulino now has responsibility for.
“As chair of the House Standing Committee on Economics and a member of the Parliamentary Joint Committee on Corporations and Financial Services, Dr Mulino comes into the role with a good understanding of the significant economic contribution financial services industry makes to the Australian economy, as well as a balanced view on the opportunities and challenges the sector faces,” FSC chief executive Blake Briggs said.
