Australian govt fintech chairman joins Telstra board
The Australian government Fintech Advisory Group chairman Craig Dunn has been appointed to the Telstra board as non-executive director.
Dunn has more than 20 years experience in financial services, pan-Asian business activities, and strategic advice for government and major companies.
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He is currently the chairman of fintech hub Stone and Chalk, an external advisory panel member for the Australian Securities and Investments Commission, board member of the New South Wales government Financial Services Knowledge Hub, director with Westpac, and chairman of the Australian Ballet.
In 2014, Dunn's advice was sought after by the federal government through the Financial System Inquiry, and the Consumer and Financial Literacy Taskforce.
Dunn was also the former AMP CEO and managing director where he was responsible for initiating Asian joint ventures, led a merger with AXA, and brought the company's attention to technology. Dunn has also previously held leadership roles at Colonial Mutual Group and KPMG.
Telstra chairman Catherine Livingstone said Dunn's appointment marks the company's recognition of his experience and expertise in financial technology.
"Craig brings significant business expertise to the Telstra board and a great passion for technology as a positive disruptive force. These are major considerations for Telstra's strategic directions and his contributions will be welcomed," she said
The appointment of Dunn to the board will further warm up Telstra's relationship with the Australian government.
On Monday, Telstra picked up a hybrid fibre-coaxial (HFC) deal from the NBN, valued at AU$1.6 billion. Under the deal, Telstra will provide design and management services within its HFC footprint. Telstra said the deal would run until the end of the NBN build, currently slated for the end of 2020.
The deal is in addition to the memorandum of understanding Telstra and NBN signed in December that saw Telstra pick up design, engineering, procuring, and construction within its HFC network, as well as undertaking to upgrade the HFC network to DOCSIS 3.1.
At the same time, Telstra also signed two contracts with NBN worth AU$80 million in first-year revenue that would see the company repair faults on the copper network and other NBN services.
Telstra and NBN also signed an amended AU$11 billion definitive agreement in December 2014, which saw NBN take on ownership of Telstra's legacy copper and HFC networks.