Former RBA Governor joins Macquarie boards

Macquarie Group has announced the appointment of Glenn Stevens as an independent director of its board, effective 1 November 2017.

Stevens was formerly the governor of the Reserve Bank of Australia (RBA) for a period of ten years (2006-2016). Prior to that he spent nearly five years as the deputy governor for the RBA and also held the roles of assistant governor, head of the economic analysis department and head of the international department.

In addition, he spent ten years as chair of the Australian Council of Financial Regulators, was a member of the Financial Stability Board and sat on a range of G20 committees. He is currently a director on the board of the Anika Foundation, which supports research into adolescent depression, and is a volunteer pilot for the Angel Flight patient transport.

Commenting on his appointment to the Macquarie board, chair, Peter Warne, said: "Glenn is an internationally respected central banker who has contributed significantly to Australia's economic success. He brings a unique perspective to our boards, not only regarding the drivers of Australia's economy, but also those of the international economies from which Macquarie derives the majority of its income."

Stevens will also join the board of Macquarie Bank.