Nicholas Moore (AAP Image/Joel Carrett)

Who’s the best person to keep an eye on the financial regulators charged with monitoring the biggest and most powerful companies in Australia? 

The obvious answer would be a fiercely independent person with no history of being paid millions by the very companies the regulators are supposed to scrutinise.

But Treasurer Josh Frydenberg thinks otherwise. He has appointed a man synonymous with the excesses of the financial sector, former Macquarie Group CEO Nicholas Moore, who helped turn Macquarie Bank into the millionaire’s factory it’s known as today.