Title

CURRICULUM VITAE

Employment History:

1997 - Percy Allan and Associates Pty Ltd, Sydney  
  Principal  
  Percy Allan and Associates is a public policy and management advisory practice that provides consultancy services to both private and public sector organisations. Its focus is on policy, economics, finance and management in the public sector and at the interface between private enterprise and government. His work has been for organisations in Australia and neighbouring countries (China, India, Thailand, Indonesia, Philippines, Taiwan and the Pacific Islands).
     
1997 - 1998 The Allen Consulting Group  
  Director and Head of Sydney Office  
  This position entailed establishing and leading the Sydney Office of The Allen Consulting Group, a Melbourne based political economy advisory practice that specialises in the economics of competition policy, infrastructure cost benefit analysis, industry assistance and government related issues management.
Projects undertaken in this position covered coal mining, electricity, water, ports, superannuation, workers compensation, public housing, public finance, government priority setting and privatisation. In addition Percy gave regular presentations to professional conferences on the future of public policy and management in a globalised economy.
     
1994 - 1996 Boral Limited, Sydney  
  Finance Director  
  This position reported to the Chief Executive, was a member of the company’s Management Committee and involved attendance at all Board meetings. Responsibility for accounting, taxation, treasury, superannuation, purchasing, information technology and investor relations for the Boral group as a whole. Boral consisted of six operating groups incorporating 45 product divisions in Australia, USA, Europe, Asia and the Pacific Islands. Sales turnover was A$5 billion and total employment 22,000.
The major achievement in this position was reforming Boral’s finance function including overhauling its strategic planning, general accounting and financial processing, treasury, taxation, purchasing, superannuation, IT, investor relations and head office administration. By mid-1996, annual savings of $35 million per annum were already being generated by these initiatives with the prospect of this rising to $100 million or more when the reforms were fully implemented.
     
1985–1994  NSW Treasury, Sydney  
  Secretary, NSW Treasury Department
Chairman, NSW Treasury Corporation
 
  These positions reported to the Treasurer of New South Wales (who for much of the period was also Premier) and involved responsibility for management of NSW’s public finances, including accounting and financial administration, budgeting, intergovernmental financial relations, financial oversight of all Government Trading Enterprises, general economic advice, tax collection and centralised treasury operations. The NSW public sector had total revenues of over $30 billion and 282,000 employees.
The major achievements of this position were upgrading the state’s financial management policies and processes to world best practice and obtaining the formal agreement of all Australian Governments to present their budgetary information on a uniform basis so that meaningful comparisons can be made of their financial plans and performance.
Initiatives within NSW included:
  The adoption of modern budgeting, accounting and reporting systems for the general government sector, including the world’s first audited government consolidated financial statements;
 
Putting Government Trading Enterprises on a commercial footing by requiring them to meet minimum rates of return on their assets and equity, adopt appropriate capital structures and make dividend and tax equivalent payments;
 
Establishing Fanmac Ltd, Australia’s first issuer of residential mortgage backed securities, which later changed its name to Resimac Ltd, which employs over 100 staff and has $8 billion of securities on issue. 
 
Conceiving and establishing an independent Prices Tribunal (now called IPART) to control all public sector monopoly charges, which in its initial years resulted in significant real falls in utility prices;
 
Oversighting the development of the NSW Treasury Corporation as the pre–eminent central government borrowing authority in Australia; and
 
Maintaining NSW’s triple-A credit rating throughout the severe and prolonged recession of the early 1990s.
  In 1996 Percy Allan was awarded an Order of Australia (AM) for his contribution as Secretary, NSW Treasury, to improving state financial management.
   
1982–1985 NSW Treasurer’s Office, Sydney
  Senior Policy Adviser to the Treasurer and Financial Adviser to the Premier of New South Wales
  This position was a secondment from the Treasury to the Treasurer’s private office and reported directly to the Treasurer and Premier of New South Wales. Involved giving the Premier and Treasurer independent advice on all policy submissions emanating from Treasury.
The major achievement of this position was being a catalyst in triggering the transformation of Treasury from a traditional to modern financial manager. Specific initiatives included the introduction of program budgeting, annual public reporting by all government agencies, more informative budget papers and the introduction of regular performance evaluation for all government programs. Considerable effort was also put into promoting Sydney as the nation’s financial capital by abolishing stamp duty on the issue and trading of corporate bonds and mortgage backed securities, securing the agreement of the Federal Government to give income tax concessions to offshore banking units and establishing FANMAC Ltd to pioneer the large scale securitisation of mortgages.
   
1976–1982 NSW Treasury, Sydney
  Senior Economist and Assistant Chief Economist
  This position reported to the Chief Economist, NSW Treasury and was in charge of the Economics and Revenue branch of the Economics division. Responsibilities included economic and revenue forecasting, Commonwealth State financial relations and state tax policy.
   
1975–1976 Department of Labour & Industry, Port Moresby, Papua New Guinea
  Officer in Charge, Industrial Projects Branch
  This position reported to the Director of the Industrial Development Division and involved responsibility for assessing the financial feasibility and economic desirability of major private industrial proposals submitted to the Government for approval. It also involved promoting manufacturing activity in PNG.
   
1971–1975 Bank of New South Wales (Westpac Banking Corporation) Sydney, Port Moresby and London
  Economist
  These positions reported to the Bank’s Chief Economist and largely involved macro economic research, monitoring and forecasting as well as industry analysis. Outputs included special reports and private briefings for large clients of the bank and contributions to the Bank’s weekly and quarterly economic publications.
   
1968–1970 University of Sydney, Economics Faculty, Sydney
  Tutor in Economics
  This position was a part time teaching job, concentrating mainly on microeconomics.
   
Qualifications:
1968  Bachelor of Economics, University of Sydney (Economics, Government and Industrial Relations)
1971 Master of Economics, University of Sydney (Economic Development)
1965 Leaving Certificate, Cranbrook School, Bellevue Hill, Sydney
   
Awards:  
2003 National Fellow of the Australian Institute of Public Administration, Australia (IPAA)
1997 Trustee of the Committee for the Economic Development of Australia (CEDA)
1996 Order of Australia (AM)
1995 Fellow of the Australian Institute of Company Directors (FAICD)
1994 Fellow of the Australian Society of Practising Accountants (FCPA)
1993 Fellow of the Australian Institute of Management (FAIM)
   
Past Activities:
•  
Director, Sydney University Union, 1967–1970
• 
President, Students Representative Council, Sydney University, 1969–70
• 
Member, Premier’s Committee on Offshore Banking (Whitlam Committee), 1983–84
• 
Director, Home Care Service of New South Wales, 1984–87
• 
Founder and Chairman, First Australian National Mortgage Acceptance Corporation (FANMAC) Limited, 1985–93
• 
Director, FANMAC LTD, 1985–93
• 
Chairman, NSW Government Expenditure Review Task Force, 1986–87
• 
Director, State Bank of NSW 1987–90
• 
Member Premier and Treasurer’s Management Council, 1988–94
• 
Chairman, Corporatisation Reviews of State Transit Authority (1989–90), Public Trustees Office (1991–92) and Home Care Service of NSW (1992–93)
• 
Chairman, Australian Under-Treasurer’s Committee on Standardising the Presentation of Budget Information, 1989–91
• 
Member, Home Purchase Assistance Authority Board, 1993–94
• 
President, Royal Institute of Public Administration (NSW Branch), 1993–94)
• 
Director, Boral International Pty Ltd, 1994–96
• 
Director, Mount Lyell Investments Ltd, 1994–96
• 
Director, Boral Insurance, Ltd, 1994–96
• 
Director, Boral Provident Fund Ltd, 1994–96
• 
Director, Boral Superannuation Pty Ltd, 1994–96
• 
Member, Advisory Board of the Graduate School of Management, Macquarie University, Sydney, 1992—2008
• 
Convenor, The Reform Club, administered by the Australian Securities Exchange, 1994-
• 
Chairman and Research Director, Review Today Pty Ltd, 2006 –
• 
Member of CEDA Policy and Research Council, 2009 –
• 
Chairman and Director, Marketing, Market Timing Pty Ltd 2009 –
• 
Chairman, NSW Premier’s Council on the Cost and Quality of Government, 1999-2007
• 
Chairman, Constellation Capital Management Ltd., 1999 – 2012
Chairman, Greyhound Racing New South Wales, 2002 – 2012
National President, Institute of Public Administration Australia, 2010 - 2012
Chairman, Wentworth Park Trust, 2013 -
   
Present Activities:
Member, Economic Society of Australia (NSW Branch), 1971–
Fellow, Institute of Public Administration Australia (NSW Branch) 1976–
Convenor, The Reform Club, 1994–
Visiting Professor, Graduate School of Management, Macquarie University, 1996–
Trustee, Committee for the Economic Development of Australia (CEDA), 1987-
Chairman and Research Director, Review Today Pty Ltd, 2006 -
Chairman and Research Director, Market Timing Pty Ltd, 2009 -
Member of CEDA Council on Economic Policy, 2009 –
Regular speaker and writer on public sector reforms  
Writes weekly editorials on the economic and market outlook for Market Timing’s Weekly Update bulletin.
Contributes occasional articles on public policy, finance, economics and management to Australian Financial Review, Business Spectator and The Eureka Report.
   
Personal:
Born: London, UK 24 July 1946.
  Emigrated to Australia in 1953, Australian Citizen
Wife: Philippa Smith, AM – Chair, Food Standards Australia New Zealand and a Company Director on several boards. She was formerly Chief Executive of the Association of Superannuation Funds of Australia, Commonwealth Ombudsman and Chief Executive of The Australian Consumers Association (Choice).
Personal Interests: Future Studies, Public Policy, Finance, Management, Economics and Personal Investment. Reading and Writing, Movies and Theatre, Art and Painting, Travelling and Jogging.
   
Personal References:
Tom Parry, Chairman, First State Super and former  Chairman, NSW Independent Pricing and Regulatory Tribunal;
Peter Achterstraat, NSW Auditor General and former NSW Tax Commissioner, Office of State Revenue;
Trevor Rowe, Chairman, Rothschild Australia Ltd;
Peter Boxall, Chairman, NSW Independent Prices and Regulatory Tribunal and former Secretary, Commonwealth Department of Finance and Administration;
Malcolm Irving, Former Chairman, Caltex Ltd;
Richard Humphry, Former CEO, Australian Stock Exchange and former Director General, NSW Premier’s Dept
Allan Moss, Former CEO, Macquarie Bank;
Maurice Newman, former Chairman, ABC and former Chairman, Australian Securities Exchange
Elizabeth More, Former Executive Director, Macquarie Graduate School of Management;
Bill Beerworth, Managing Director, Bill Beerworth & Partners;
John McMurtrie, Managing Director, Link Market Services Ltd;
Rod Sims, Chairman, Australian Consumer and Competition Commission;
John Fraser, Executive Chairman and CEO, SBC Brinson;
Col Gellatly, Former Director-General, NSW Premiers Department;
Charles Curran, Chairman, Capital Investments Group;
Tony Berg, Chairman Gresham Partners and former Managing Director,  Boral Ltd;
David Murray, Chairman, Future Funds and former Managing Director, Commonwealth Bank of Australia;
Geoff Allen, former Chairman, The Allen Consulting Group;
Hon Bob Carr, Minister for Foreign Affairs and former Premier, NSW;
Hon Nick Greiner; Company Director and former Premier/ Treasurer, NSW.
Hon John Fahey, former Premier NSW and former Australian Minister for Finance and Administration;
Hon Peter Collins; Chairman, Barton and Deakin, former NSW Treasurer and Leader of the NSW Opposition;
Hon George Souris, MP, Minister for Racing, Gaming and Liquor and former Minister for Finance, NSW;
Gary Sturgess, Premier's ANZSOG Chair in Public Service Delivery at the University of New South Wales. Former Head of the UK Serco Research Institute and former Director General of the NSW Cabinet Office.