Stockbrokers praise Turnbull's Cabinet reshuffle

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Stockbrokers have praised the Cabinet reshuffle by new PM Malcolm Turnbull.

The weekend saw Turnbull dramatically change his Cabinet ministry, promoting Scott Morrison to Treasurer and Kelly O'Dwyer to Assistant Treasurer. Former Treasurer Joe Hockey left his Cabinet post, and looks set to leave Parliament entirely.

The Stockbrokers Association has praised the reshuffle, with CEO Andrew Green saying the appointments of O'Dwyer and Morrison "complete the trifecta".

“Not only do we have a PM with deep experience in Investment Management but a Treasurer with a demonstrable ability to deliver reform, and Assistant Treasurer with a nimble and agile mind which will equip her well to understand the cost to Australia of compliance and red tape in a global market place," Green said.

Matthias Corman will retain his position as Finance Minister, and Andrew Robb remains in his position as Trade Minister.