Sydney’s goal of becoming Australia’s financial hub was boosted last week with a forum held at the new Centre for International Finance and Regulation to announce the centre’s board.

The interim director for the centre is John Trowbridge, who recently completed the Natural Disaster Insurance Review for the Federal Government.

Investment banker Peter Mason has been named as chairman, with board members including Federal Treasury Secretary Martin Parkinson, Morgan Stanley Australia CEO Steven Harker and Australian Prudential Regulation Authority Chairman John Laker.

Partner institutions represented on the board are the University of NSW, Sydney University and Macquarie University.

NSW Trade and Investment Minister Andrew Stoner told the forum he has just returned from a trade mission to India where he introduced the centre to a forum in Mumbai.

“Sydney’s place as Australia’s financial capital was confirmed in July when we successfully bid for the Centre for International Finance and Regulation,” he said. “Financial and insurance services are NSW’s largest industry, accounting for 14% of the state economy in 2009/10 with a value of almost $58 billion.”