Alex Malley

Last updated

Alex Malley
Education Trinity Grammar School
Alma mater University of New South Wales
(BComm 1983, MComm 1985)
OccupationAccountant
Known forCEO, CPA Australia (2009–17)
Television In Conversation with Alex Malley

Alex Malley, is an Australian accountant and business executive who is currently the CEO of the Australian Chiropractors Association since 2022, and the former chief executive of CPA Australia from 2009 to 2017. He was removed by the CPA board of directors in late June 2017 after months of controversy regarding his salary and the use of CPA funds for self-promotion of his book and TV program. [1] [2]

Contents

Early life

The son of Maltese-Greek parents, Malley grew up in the inner Sydney suburb of Strathfield, where he attended Trinity Grammar School. [3] In 1980–1985, Malley attended the University of New South Wales, receiving a Bachelor of Commerce in 1983, and a Master of Commerce in 1985. [4] [5]

Career

Malley began his career working in finance at the Commonwealth Bank of Australia. [3] He quit the job and began working as a finance lecturer first at the University of Western Sydney, and then as an accounting academic at Macquarie University from 1993. In 2006, Malley was an associate professor in accounting and was allegedly allowed to resign his position at the university, including his elected position on the university council, under a confidential settlement reached following complaints that he allegedly directed many of his first-year students to undertake paid tutorials through his wife's company, in return for bonus marks in his courses. [6]

Following his departure from Macquarie University, in late 2006 Malley was appointed Chief Executive Officer of the Urological Society of Australia and New Zealand. Malley left this role in late 2009, when he was appointed CEO of CPA Australia; he remained a director of the Urological Society until November 2015 and on his departure was awarded honorary membership of the society. [7] [8] [9] [10] [11]

CPA Australia

In 1998, Malley was elected to the NSW divisional council of the professional accounting body, CPA Australia, and in 2000 unsuccessfully applied to be the NSW division's director. [3] However, in 2003 Malley became president of the NSW Division of CPA Australia, and then one of 16 national directors. [3] In October 2007 Malley was appointed as the president of CPA Australia. [3] [12] In early 2009, Malley stepped down as president and was succeeded by his former Macquarie University colleague, Professor Richard Petty, and was appointed the CEO of the organisation in July 2009, commencing from 12 October 2009. [13] [14]

As CEO of CPA Australia, Malley came under significant criticism in the media and from CPA members in 2017 for his A$1.8 million annual salary and for the significant amounts of CPA funds going towards promoting Malley and his personal interests, such as a paid television show and Malley's autobiography. [15] The scandal surrounding Malley, combined with broader member discontent over executive changes that made the board unaccountable and debts accrued from the establishment of a financial planning arm, led to the resignation of the CPA president and two board members by June 2017. The two resigning board members, Richard Alston and Kerry Ryan, cited the presence of "board allies of chief executive Alex Malley" refusing to "allow a wide-ranging review of Mr Malley and the organisation" as their main reason. [16]

On 15 June, a further three directors resigned due to the expanding scandal surrounding Malley and the remaining board initiated an "independent review" of all claims made against CPA and its CEO, to be chaired by former chief of the Australian Defence Force, Sir Angus Houston. [15] However, even the decision to create the review came under criticism when it was revealed that Houston had appeared as guest on Malley's TV program and had written a glowing foreword in Malley's book. [17] Houston later resigned his post in favour of former Commonwealth Auditor-General, Ian McPhee. [15]

Facing a significant swelling of discontent amongst CPA members, on 23 June 2017 it was announced that the CPA board had terminated the contract of Malley, resulting in CPA paying out the remainder of his contract to the sum of A$4.9 million. [18] [19] The subsequent review report released in September 2017 found that the "chief executive was overpaid, [CPA Australia] had lost touch with its members and provided questionable value for money for the services it rendered." [20] [21] In addition to CPA's "over-emphasis on marketing and brand building activities that centred on the former CEO", the review in particular noted the excessive CEO's salary, with its many increases over several years not being justified by organisational growth. [22]

In January 2019 Malley and three previous directors were stripped by the CPA of their Life Memberships. [23]

Australian Chiropractors Association

In July 2022, it was revealed that Malley had taken the position of CEO of the Australian Chiropractors Association, which was based at its headquarters in Melbourne. On his appointment, Joe Aston of the Australian Financial Review opined: "The ACA has hired someone even more skilled at manipulation than they are", while the Sydney Morning Herald noted: "Perhaps the back scratchers have short memories ... [Malley is] Proof, if ever, that there’s hope for the cancelled yet." [24] [25]

Related Research Articles

Macquarie Business School (MQBS) is a constituent body of Macquarie University, in Sydney, New South Wales, Australia.

<span class="mw-page-title-main">CPA Australia</span> Professional accounting body in Australia

CPA Australia is a professional accounting body in Australia, originally founded as the "Incorporated Institute of Accountants" in 1886. As of 31 December 2020, it has 168,736 members in 150 countries and regions around the world. CPA Australia currently has 19 staffed offices across Australia, China, Hong Kong, Malaysia, Singapore, Indonesia, Vietnam, New Zealand and the UK.

<span class="mw-page-title-main">Lachlan Murdoch</span> British-Australian businessman (born 1971)

Lachlan Keith Murdoch is a British-American businessman and mass media heir. He is the executive chairman of Nova Entertainment, co-chairman of News Corp, executive chairman and CEO of Fox Corporation, and the founder of Australian investment company Illyria Pty Ltd.

Ahmed Fahour is a Lebanese Australian businessman. He is the managing director (MD) and CEO of Latitude Financial Services, and was formerly MD and CEO of Australia Post, and CEO Australia of the National Australia Bank (NAB).

Christopher James Lynch is an Australian businessman who is currently a director of Westpac. He is a former chief financial officer and board member of Anglo-Australian resources companies Rio Tinto and BHP Billiton, and a CEO of Transurban. Lynch was a member of the AFL Commission between 2008 and 2014. He played five matches for Geelong Football Club in the Victorian Football League.

Donald Robert ArgusACCPASF is an Australian businessman, chairman of Bank of America Australia advisory board and member of Monash University's Monash Business School advisory board. He is a former member of Bank of America's inaugural Global Advisory Council (2013–2019); former chairman of BHP (1999–2010) and Brambles (1999–2008), former director of the Australian Foundation Investment Company (1999–2013) and former CEO of National Australia Bank (1991–1999). He was educated at the Anglican Church Grammar School.

<span class="mw-page-title-main">Macquarie Group</span> Australian investment bank and financial services company

Macquarie Group Limited is an Australian global financial services group. Headquartered and listed in Australia, Macquarie employs more than 20,000 staff in 34 markets, is the world's largest infrastructure asset manager and Australia's top ranked mergers and acquisitions adviser, with more than A$871 billion in assets under management.

<span class="mw-page-title-main">Alan Joyce (businessman)</span> Irish-Australian businessman and Qantas CEO

Alan Joseph Joyce is an Irish-Australian businessman. He is the chief executive officer (CEO) of Qantas Airways Limited since 2008.

<span class="mw-page-title-main">Jeff Zients</span> American business executive (born 1966)

Jeffrey Dunston Zients is an American business executive and government official, serving as the 31st White House chief of staff in the administration of U.S. president Joe Biden. Earlier in the Biden administration, he served as counselor to the president and White House coronavirus response coordinator from January 2021 to April 2022.

Christian Purslow is a British businessman who was most recently the chief executive officer of the Premier League club Aston Villa Football Club. He was the co-founder of private equity firm MidOcean Partners and was the former managing director of Liverpool Football Club and the former managing director and head of global commercial activities at Chelsea Football Club.

Alex Waislitz OAM is an Australian investor.

<span class="mw-page-title-main">NBN Co</span> Australian government broadband network provider

NBN Co Limited, known as simply nbn, is a publicly owned corporation of the Australian Government, tasked to design, build and operate Australia's National Broadband Network as the nation's wholesale broadband provider. The corporation reports to two shareholder ministers: the Minister for Finance and the Minister for Communications.

<span class="mw-page-title-main">OFX (company)</span> Australian foreign exchange and payments company

OFX, previously known as OzForex, is an Australian online foreign exchange and payments company with headquarters in Sydney. The company provides money transfer services to individuals such as migrants and expatriates and small businesses as well as providing white-label international transfer services for Travelex, MoneyGram, Xero, Capital One 360, and Macquarie.

<span class="mw-page-title-main">Megan Clark</span> Australian scientist, CEO of the CSIRO

Megan Elizabeth Clark is an Australian geologist and business executive, former director of the CSIRO, and former head of the Australian Space Agency.

<span class="mw-page-title-main">Nuix</span>

Nuix Ltd is an Australian technology company that produces investigative analytics and intelligence software for extracting knowledge from unstructured data. The applications of the company's technology reportedly include digital forensics, financial crime, insider investigations, data privacy, data governance, eDiscovery and regulatory compliance. As of December 2020, the company's software was reportedly used by 1000 customers in 79 countries. The company has its headquarters in Sydney, Australia with offices in Asia, Europe, the Middle East and North America.

Edward (Ted) Pretty, is an Australian businessman and lawyer.

In Conversation with Alex Malley is an Australian television interview show on the Nine Network.

<span class="mw-page-title-main">Cindy Hook</span> American businesswoman (born 1964)

Cindy Hook is an American-Australian business executive. She is the chief executive of the organising committee for the 2032 Summer Olympic and Paralympic Games. She was the chief executive officer of Deloitte Asia Pacific from September 1, 2018, to May 31, 2022. She was the chief executive officer for Deloitte Australia from 2015 to 2018. Hook was the first female CEO of an Australian big four professional services firm. In 2018, she was named in Australian Financial Review's annual Power issue as one of the top five most powerful people in consulting.

Joseph R. Ianniello is CEO and Chairman of Argus Capital Corp., a special purpose acquisition company. He has previously been the Chairman of CBS Entertainment Group unit of ViacomCBS from December 4, 2019 until March 23, 2020 and President and acting CEO of CBS Corporation in September 2018.

Mark Allison is an Australian agricultural industry manager. He is a chief executive officer and managing director of Elders Limited and holds several other positions at the industry organizations.

References

  1. ↑ "CPA chief Alex Malley sacked, will walk away with $4.9m". The Sydney Morning Herald. 24 June 2017. Retrieved 23 June 2017.
  2. ↑ "CPA Australia money trail: Why accountants want a closer look at their organisation's books – ABC News (Australian Broadcasting Corporation)". mobile.abc.net.au. Retrieved 23 June 2017.
  3. 1 2 3 4 5 Patrick, Aaron; Durkin, Patrick (13 June 2017). "CPA Australia's Alex Malley: the world's most ambitious accountant". Australian Financial Review. Retrieved 21 March 2018.
  4. ↑ "No Fear, No Embarrassment: Alex Malley Inspires at Career Mentor Closing Ceremony" (Media Release). UNSW. 26 October 2015. Retrieved 4 September 2023.
  5. ↑ "Meet the boss: Alex Malley, Chief executive, CPA Australia". The Australian. 19 April 2013. Retrieved 4 September 2023.
  6. ↑ Aston, Joe (26 March 2017). "CPA's Alex Malley's confidential Macquarie Uni exit". The Australian Financial Review. Retrieved 4 September 2023.
  7. ↑ "Executive 2006/07". Urological Society of Australia and New Zealand. Archived from the original on 1 September 2007. Retrieved 4 September 2023.
  8. ↑ "2009/10 Board of Directors composition". Urological Society of Australia and New Zealand. Archived from the original on 12 October 2009. Retrieved 4 September 2023.
  9. ↑ "Executive Management Group > Alex Malley FCPA - Chief Executive Officer". Urological Society of Australia and New Zealand. Archived from the original on 12 October 2009. Retrieved 4 September 2023.
  10. ↑ Aston, Joe (26 March 2017). "Macquarie University bequeathed Alex Malley to CPA Australia members". The Australian Financial Review. Retrieved 4 September 2023.
  11. ↑ "2015 Annual Report" (PDF). Urological Society of Australia and New Zealand. Retrieved 4 September 2023.
  12. ↑ "A brief history of Alex Malley's unraveling CPA fiasco". Crikey. 5 June 2017. Retrieved 15 June 2017.
  13. ↑ "CPA Australia elects new president". CPA Australia. 3 March 2009. Archived from the original (Media Release) on 8 December 2010. Retrieved 4 September 2023.
  14. ↑ "CPA Australia announces new CEO". CPA Australia. 20 July 2009. Archived from the original (Media Release) on 8 December 2010. Retrieved 4 September 2023.
  15. 1 2 3 Aston, Joe (24 January 2018). "Alex Malley: What a difference a year makes". Australian Financial Review. Retrieved 21 March 2018.
  16. ↑ Aston, Joe; Tadros, Edmund; Patrick, Aaron; Durkin, Patrick (7 June 2017). "Richard Alston quits CPA Australia board over governance". Australian Financial Review. Retrieved 21 March 2018.
  17. ↑ Letts, Stephen (16 June 2017). "CPA chief Alex Malley keeps his job but faces 'fiercely independent' review over ongoing controversy". ABC News. Retrieved 21 March 2018.
  18. ↑ Hobday, Liz (24 June 2017). "CPA terminates contract with chief executive Alex Malley". ABC News. Retrieved 21 March 2018.
  19. ↑ Aston, Joe; Tadros, Edmund (23 June 2017). "CPA Australia CEO Alex Malley sacked". Australian Financial Review. Retrieved 21 March 2018.
  20. ↑ Letts, Stephen (15 September 2017). "CPA review finds CEO overpaid and organisation 'out of touch' with members". ABC News. Retrieved 21 March 2018.
  21. ↑ Tadros, Edmund (7 August 2017). "Inside story of Alex Malley's final days at CPA Australia". Australian Financial Review. Retrieved 21 March 2018.
  22. ↑ Pash, Chris (14 September 2017). "CHARTS: How the salary of CPA Australia's chief executive grew faster than membership". Business Insider Australia . Retrieved 7 May 2018.
  23. ↑ Taurian, Katarina (31 January 2019). "Alex Malley, former directors stripped of CPA life memberships" . Retrieved 17 September 2020.
  24. ↑ Aston, Joe (5 July 2022). "Alex Malley rises from the ashes". The Australian Financial Review.
  25. ↑ Napier-Raman, Kishor; Towell, Noel (5 July 2022). "After Australia's 'first cancel culture example', disgraced former CPA boss Alex Malley is back". The Sydney Morning Herald. Retrieved 3 September 2023.

Published works

This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.