Sydney Chosen as Hosting City for Worldwide Superannuation Leaders
NSW Treasurer Daniel Mookhey has announced that the government aims to strengthen Sydney’s role as an Asia-Pacific financial leader. A week after the inaugural Australian Superannuation International Summit hosted by U.S. Ambassador Kevin Rudd in Washington and New York, the New South Wales (NSW) government will host a similar event in Sydney later this year. Treasurer Daniel Mookhey plans to host global superannuation leaders in Sydney to enhance the city’s position as the financial hub of the Asia Pacific.
Mookhey emphasized the importance of innovation and technological development in NSW, noting that Sydney ranks among the top five most popular investment destinations worldwide. The NSW Treasury Corp Chief Executive David Deverall highlighted Sydney’s economic strength, citing a strong investment pipeline, a large skilled workforce, and advanced digital infrastructure. Sydney is home to the country’s largest banks and dominates Australia’s venture capital and private equity activity, with nearly 60 percent of Australian venture capital based in NSW.
Furthermore, Mookhey mentioned Sydney’s leadership in research output per capita, its financial and tech workforce, and the continuous supply of qualified graduates from local universities. Sydney is ranked fourth globally as a popular investment destination for foreign investors, following Dubai, London, and Singapore.
The inaugural summit in Washington and New York showcased Australian funds investing $631.6 billion (US$392 billion) into the U.S. economy. Financial leaders who participated in the summit include U.S. Treasury Secretary Scott Bessent and Australian Treasurer Jim Chalmers. Chalmers highlighted the significant assets managed by Australian super funds and discussed potential investment opportunities with prominent business leaders such as Blackstone CEO Stephen Schwarzman, Citigroup CEO Jane Fraser, and JPMorgan CEO Jamie Dimon. The summit also saw the participation of governors and congressional representatives from key U.S. states, contributing to over a quarter of U.S. GDP.
