J.P. Morgan Chair resigns from Future Fund board
Rob Priestley, chair of J.P. Morgan Australia & New Zealand, has stepped down from the boards of the Future Fund and the ASX, effective immediately, following criminal cartel charges being laid against ANZ Bank, Citi and Deutsche Bank, and six senior bankers, by the Commonwealth Director of Public Prosecutions.
In a statement, Priestley said: "It is likely that this matter will take some time to resolve, and as there are limits to the information that can be discussed at this time, I think the right course of action in these circumstances is to step aside from the ASX board to allow the situation to be fully resolved."
"Given my decision to step aside from the ASX board, I think it is also appropriate that I step aside from the Future Fund board of guardians."
Priestley was appointed to the Future Fund board in November 2017 for a five-year term following the departure of Steven Harker. He joined the ASX board in May of the same year.
