Former WA treasurer Ben Wyatt has become an adviser to Australian Capital Equity, adding to the network of powerful individuals close to its chair Kerry Stokes.
Former WA treasurer Ben Wyatt has become an adviser to Australian Capital Equity, adding to the network of powerful individuals close to its chair Kerry Stokes.
Mr Wyatt recently commenced as a member of the advisory committee of Australian Capital Equity, which is the central company in Mr Stokes’ vast business empire.
It brings to nine the number of roles held by Mr Wyatt, who is also a director of Rio Tinto and Woodside Energy.
The new role has not been publicly announced but came to light after Rio and Woodside published updated profiles of Mr Wyatt.
He is also a board member of medical research group Telethon Kids Institute, which is closely connected to Mr Stokes via the funding support it obtains from the Channel 7 Telethon Trust.
ACE is the major shareholder in ASX company Seven Group Holdings, which owns or controls multiple businesses, including WesTrac, Coates Hire and Boral.
Through Seven Group and ACE, Mr Stokes is also the dominant shareholder in ASX companies Beach Energy, BCI Minerals and Seven West Media, which owns the Seven television network and publishes ‘The West Australian’.
In his new role, Mr Wyatt will work alongside former federal government minister and ANZ Bank chair Warwick Smith, who has been chair of ACE’s advisory committee since 2006.
Mr Smith is also a non-executive director at Seven Group, which is led by Mr Stokes’ son, Ryan Stokes.
Another well-connected person at ACE is strategic advisor Guy Houston, who was chief of staff to former premier Mark McGowan.
ACE’s advisory committee works with the company’s board of directors, which is chaired by Mr Stokes and includes his wife, Christine Simpson Stokes, along with Ryan Stokes and two long-serving lieutenants, Brian O’Donnell and Robin Waters.
ACE is owned through another private company, Clabon Pty Ltd, which has its own very powerful board of directors.
It is chaired by David Gonski, who has long been regarded as one of Australia’s best connected company directors and advisers.
His current roles include chair of Sydney Airport Corporation and investment bank Barrenjoey and chancellor of the University of NSW.
Clabon’s board also includes former WA premier Richard Court, Mr Smith and former Supreme Court judge Neville Owen.
Mr Wyatt’s new role at ACE makes him one of the busiest company directors in WA.
As well as being a co-founder and director of consulting firm Wyatt Martin, he is a director of three ASX companies – Rio Tinto, Woodside and APM Human Services International.
In March he was named as the new chair of the Perth Festival.
He is also a board member at the Telethon Kids Institute and the West Coast Eagles and an advisory board member at the UWA Business School.
Business News has approached Mr Wyatt and ACE for comment.
In related news, Australian Capital Equity’s chief operating officer James McMahon retired at the end of June.
Mr McMahon stepped down after six years in the role.
ACE was in the news early this week after it emerged one of its subsidiaries had struck an unusual deal with City of Perth to buy a public access laneway behind its head office in West Perth.
Lord Mayor Basil Zempilas, who is an employee of Seven West Media, did not vote on the $675,000 deal after declaring a conflict of interest.
