Queensland’s Treasurer, Mr Tim Nicholls, has thanked the outgoing Chairman of the Queensland Investment Corporation, Mr Peter Young AM, for his service to QIC.
Established in 1991 by the Queensland Government to manage its long-term investments, QIC has grown to be the third largest institutional investment manager in Australia. Mr Young has been the Chairman of QIC for 5 years.
Mr Young is relinquishing his role to take on the position of Chairman of Standard Life Investments in Australia and New Zealand.
Mr Nicholls said the Government would consider a replacement for Mr Young over coming weeks.