IAG and First Nations Economics Strengthen Talent Pathways Through Three-Year Scholarship Partnership

First Nations Economics (FNE) is proud to announce a new three-year partnership with IAG Limited to support Aboriginal and Torres Strait Islander women pursuing careers in finance, economics and business, through the Leah Armstrong Scholarship.

The partnership includes a $120,000 commitment over three years, supporting two scholarship recipients from 2026 to 2028. The funding enables a structured approach that supports women through study, builds professional capability, and creates clearer transition points into employment.

The Leah Armstrong Scholarship is designed to remove financial and structural barriers for Aboriginal women undertaking tertiary study, while providing mentoring, leadership development and exposure to real-world professional environments. Through this partnership, IAG is supporting the development of future talent while building a stronger, more representative workforce for the insurance sector.

IAG Chief Financial Officer, William McDonnell, said the partnership reflects a practical, long-term approach to workforce development and aligns with IAG’s commitment to foster an organisational culture that is diverse, equitable and inclusive.

“IAG is delighted to partner with First Nations Economics to create real pathways into finance and insurance careers,” Mr McDonnell said.

“We look forward to supporting the successful applicants through their education and transition into professional roles, building future capability for our organisation and the broader industry.”

FNE Managing Director Shaun Cumming said the partnership demonstrates the value of long-term collaboration grounded in trust and shared purpose.

“The Leah Armstrong Scholarship is about opening doors and walking alongside women as they build confidence, capability and careers,” Mr Cumming said.

“Partnering with IAG allows us to strengthen those pathways and connect First Nations women to real opportunities in finance and the corporate sectors, where their leadership and perspectives are needed.”

The partnership supports IAG’s commitments under its Reconciliation Action Plan by translating intent into action, creating sustainable education and employment pathways while supporting a pipeline of First Nations talent into corporate Australia.

IAG will also offer scholarship holders the opportunity to participate in paid internship work while undertaking their degrees, enabling them to apply academic learning into real business contexts. Upon graduation, they will be invited to apply for IAG’s Graduate Program.

Applications for the 2026 Leah Armstrong Scholarship have now closed. The successful recipients will be announced at a formal award ceremony hosted by IAG in late March.

  • Image: A/Prof Rick Macourt, Managing Director FNE and William McDonnell, Chief Financial Officer, IAG Limited

Gurminder Saro

Interim Chair

Associate Professor Rick Macourt is a proud, queer Gumbaynggirr man, lawyer, and economic specialist. He leads First Nations Economics as Managing Director of Strategy and Foundation and serves as Associate Dean of First Nations Strategy and Services at the University of Sydney.

With over 15 years of experience spanning government, corporate, and not-for-profit sectors, Rick is deeply committed to advancing the economic development of First Peoples. As the former Director of First Nations Expenditure and Outcomes at NSW Treasury, he spearheaded the state’s inaugural Indigenous expenditure reporting processes and established the groundbreaking First Nations budget process in 2021/22. Previously, Rick held an executive role at the Westpac Group, overseeing First Nations affairs, and has a rich history in government, monitoring, evaluation, and negotiation, with senior positions at the Department of Foreign Affairs and Trade, City of Sydney, and Standards Australia.

Rick is a published author with Oxford University Press, a member of the First Nations Advisory Board of Siemens Australia, and a Non-Executive Director on the board of Barnardos Australia.