Our History

Our Journey

First Nations Economics was founded by Associate Professor Rick Macourt (Gumbaynggirr) with and Shaun Cumming (Garigal) in 2023, with Trish Oxford (Ngemba) as Founding Chair.
After working together in the Financial Services Sector and in NSW Government, Rick and Shaun saw first-hand the impact of embedding First Peoples in decision-making processes and economic policy. Working within NSW Government, they worked together to achieve the single largest investment in First Nations programs and services ($716 million), however it was soon apparent that ensuring this investment was led, delivered and evaluated by First Peoples was the next challenge.
And so First Nations Economics was born.
From its inception, FNE has been deeply grounded in its community roots and dedicated to working in partnership with governments, corporate Australia, the community sector, and First Nations community organisations to create tangible positive impact for mob.
Our core mission is to achieve the social, cultural, and economic aspirations of Aboriginal and Torres Strait Islander communities through expert advice, advocacy, and genuine lived experience.
FNE is committed to redistributing 100% of its profits back into the economic development of First Nations communities and working in partnership with philanthropic and community partners to deliver outcomes for First Peoples.
Over the years, FNE has established itself as a leading provider of economic and First Nations-related advisory services, specialising in areas such as public and economic policy, business case and evidence development, monitoring and evaluation, data and economic analysis, Reconciliation Action Plans, strategy development, First Nations employment and leadership, program design and implementation, and consultation, facilitation, and co-design.
FNE’s firm commitment to community partnerships and economic development has enabled it to make significant contributions to the social, cultural, and economic prosperity of First Peoples within the communities that they operate in.

Our Timeline

October 2020 – Rick and Shaun begin roles at NSW Treasury as the first Aboriginal Senior Executives in the organisation’s history

April 2023 – Rick and Shaun found First Nations Economics with Rick as starting as Managing Director and Shaun as a Non-Executive Director on the Board - our first partner was the NSW Coalition of Aboriginal Regional Alliances August 2023 – FNE exhibits at Supply Nation Connect December 2023 – First Nations Economics launches the Leah Armstrong Scholarship

January 2024 – FNE formally launches its pro bono advisory practice and provides more than $27,000 in pro bono services to First Nations community-controlled organisations August 2024 – FNE launches its inaugural graduate program

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.