Ms Quinn has had a distinguished career as a public sector economist in the top levels of both the public and private sector, including as Treasury deputy secretary of the Markets Group and the Macroeconomic Group.

In 2009, she was awarded a Public Service Medal for outstanding public service in the development of climate change policy. She was also central, as the head of secretariat in the Department of Prime Minister and Cabinet, to the preparation of the Australia in the Asian Century White Paper in 2012.

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Ms Quinn began her professional career as a Treasury cadet in 1991 and has also worked for BHP and the Bank of England. She holds a Masters of Economics from the London School of Economics and a Bachelor of Economics (First Class Honours) from the University of Western Australia.

"I congratulate her on the appointment and look forward to working with her," Mr Albanese said in a statement.

Ms Quinn's five-year appointment will commence on August 22.

Another soon-to-be-departing Treasury deputy secretary, Jenny Wilkinson, starts as Finance secretary next Tuesday, replacing the retiring Rosemary Huxtable.