Global business leader Greg Medcraft awarded honorary doctorate

Global business leader Greg Medcraft awarded honorary doctorate

RMIT Council has recognised the impact of Greg Medcraft on banking, business and financial markets internationally, with the award of an Honorary Doctorate of Business honoris causa.

Throughout his distinguished international career, Medcraft has advocated for greater accountability, transparency and disclosure, creating much needed changes across policy and industry.

Speaking at RMIT’s doctoral degree ceremony on Friday, Medcraft said receiving the award was a career highlight he would cherish.

“Throughout my career, I have been guided by a simple but powerful principle: that finance is not an end in itself but rather a means to an end,” he said.

“The end goal is to create a more stable, prosperous and just society that benefits all of its members, not just a privileged few.” 

Sharing insights from his life and career, he advised graduates to be optimistic and courageous and consider life ‘as a series of problems to be solved’.

Following several years in the private sector, Medcraft joined Australia’s corporate, markets, financial services and credit regulator, the Australian Securities and Investments Commission (ASIC) as Commissioner and later Chairman.

At ASIC, he led the largest case in the organisation’s history, successfully prosecuting Australia’s three largest banks, a landmark in Australian business history that became a catalyst for calling the Banking Royal Commission.

16 May 2023

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Greg Medcraft receiving his Honorary Doctorate of Business honoris causa from RMIT Chancellor Peggy O'Neil.

RMIT Deputy Vice-Chancellor (Business & Law) and Vice-President, Professor Julie Cogin, congratulated Medcraft on his contributions to society, saying his impact on law and policy and pushes for improved transparency and disclosure had led to greater protection of Australian consumers.

“Business today is not just about generating positive commercial outcomes; creating a positive social impact is equally as important, and this is fundamental to the courses and programs we design for our business students today,” said Cogin.

“Greg’s extraordinary career and significant accomplishments are testament to this important philosophy, and we couldn’t be more delighted to recognise him with a RMIT Honorary Doctorate of Business.”

Currently Medcraft is an independent Non-Executive Director of Australian Finance Group (AFG), a leading listed financial services group in Australia, and Non-Executive Director of global digital finance market standards industry group Global Digital Finance Ltd (part of the Global Business Council).

He is also an Advisory Board Member of Washington based fintech Infraclear Inc., a Non-Executive Director of Washington-based think tank the Salzburg Global Seminar Inc. and an Independent Non-Executive Director of the Digital Finance Cooperative Research Centre, of which RMIT is proud to be a co-leading university.  

As his legacy continues to grow, his work remains grounded in his contribution to the greater good across his wide fields of expertise.

 

Story: Grace Taylor

16 May 2023

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