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Want to Be Prime Minister? Go Join Goldman, Merrill or Deutsche

  • Former Goldman executive Turnbull ousted Abbott in Australia
  • Banker trio oversees $1.3 trillion of regional economic output
Malcolm Turnbull, Australia's prime minister

Malcolm Turnbull, Australia's prime minister

Photographer: Mark Graham/Bloomberg
Updated on

The surest path to political power, at least in Australia and New Zealand, may be to spend most of your working life avoiding it. Preferably at an investment bank.

In Australia, Malcolm Turnbull this week toppled Tony Abbott in a Liberal Party ballot to become prime minister. That means former executives from Goldman Sachs Group Inc., Merrill Lynch & Co. and Deutsche Bank AG hold the top three political leadership posts in Australia and New Zealand.