One of Macquarie Group’s directors is set to step down at the end of October, having signalled he is ending his decade-long tenure to consider alternative board positions.
Michael Hawker is set to retire from the boards of the group and Macquarie Bank after more than 10 years as an independent voting director.
Macquarie stated Mr Hawker had advised the group he would like to consider alternative boards that draw on his experience in the financial services industry.
His retirement will bring the Macquarie Group board membership to nine, including eight independent non-executive directors.
The Macquarie board credited Mr Hawker’s role as chair of the board remuneration committee for the last four years, where he shaped its policies and engagement.
Macquarie chairman Peter Warne commented: “We wish him well in his continued contributions to the important topics of corporate culture and governance over the coming years.”
Mr Hawker was previously chief executive and managing director of Insurance Australia Group from 2001 to 2008 and previously held senior positions at Westpac and Citibank.
Jillian Broadbent has already replaced him as chair of the remuneration committee.
Previously, Mr Harker also served as chair of the board risk committee and board governance and compliance committee.
Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth.
Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio.
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