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Joe Williams, the son of the former Prime Minister, will be making a major move into trading, after taking a position as the chief investment officer of BlackRock.
Mr Williams, who was a senior adviser to Tony Abbott in the 2010 and 2015 federal elections, said the move would allow him to focus on the broader issues that affect the sector.
He said he would not be taking a role with the bank.
He added he hoped to remain with the firm for the long term.
He is the son-in-law of one of Australia’s most successful investors, Warren Buffett, who has been a key adviser to Mr Williams.
Mr Williams is also a former chairman of the board of the Australian Stock Exchange, and previously served as an adviser to former NSW premier Mike Baird.
The firm has been active in global trading for more than 30 years, with its biggest investment ever being a $7.5 billion buyout of the company owned by the United Arab Emirates.
BlackRock was one of the early investors in bitcoin, the digital currency that is now the world’s most popular, and has attracted much criticism over its opaque structure and questionable trading practices.
Despite being one of a handful of firms with an office in Dubai, the firm was the only one to announce it would start trading on a U.S. exchange this month, after the government banned its entry into the country.
The company is owned by JPMorgan Chase, which has been the target of a series of criminal probes by the U.K. Serious Fraud Office, which was established to probe possible financial crimes.
In addition to his role with BlackRock, Mr Williams has also been the chairman of other large and small Australian companies, including BHP Billiton, which owns the Australian copper mining giant BHP.
He also has investments in several energy companies.
During the 2014 Federal Election campaign, Mr Abbott had said he wanted to build an Australian trading house that would be “a safe haven for Australia’s trading and financial markets”.
In the last federal election, the Coalition announced it was building a trading arm of its own.