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Former RBA governor to chair Macquarie Group

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The company has confirmed a new chair for the group and Macquarie Bank.

With Peter Warne set to retire by the 2022 annual general meeting, it has been announced that former Reserve Bank of Australia (RBA) governor Glenn Stevens, who has been an independent voting director of Macquarie Group and Macquarie Bank since 2017, will assume the role next May.

Mr Stevens has also chaired the board risk committee since 2019 and serves as a member of the board audit and nominating committees.

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On Thursday, Mr Stevens paid tribute to Mr Warne’s time at Macquarie, describing him as a “committed and engaged chair … and highly respected in the Australian and global business community”.

“I’m honoured to have been asked by my colleagues to follow in Peter’s footsteps and look forward to working with the boards, Shemara [Wikramanayake] and the entire Macquarie team in the continued effort to meet client, investor, regulatory and community expectations,” Mr Stevens said.

Mr Warne said he is proud to have worked at Macquarie as it continued strong growth trajectory through different market cycles, as well as through the COVID-19 pandemic.

“I am pleased that the boards have selected Mr Stevens as the next chair, with his deep expertise in markets and economics after many years as a successful governor of the Reserve Bank of Australia,” he said.

Meanwhile, Diane Grady, who has been a voting director of Macquarie Group and Macquarie Bank for over a decade, will retire following the board meetings currently scheduled for 24 February 2022.

Ms Grady is also currently a member of the board governance and compliance committee, board nominating committee, board renumeration committee and board risk committee.

“It’s been a memorable 11 years and a real privilege to have been a director of such an inspiring company,” Ms Grady said.

“I have appreciated the opportunity to work with so many outstanding executives and board members over the years and have been impressed by the quality of people at all levels and geographies in Macquarie.”

 

Former RBA governor to chair Macquarie Group

The company has confirmed a new chair for the group and Macquarie Bank.

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Neil Griffiths

Neil Griffiths

Neil is the Deputy Editor of the wealth titles, including ifa and InvestorDaily. 

Neil is also the host of the ifa show podcast.

 

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