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.
