Macfarlane retires from ANZ Board

ANZ has announced the retirement of long-serving board director, Ian Macfarlane, effective 16 December 2016.

Macfarlane sat on the ANZ board for nearly 10 years and previously spent 28 years at the Reserve Bank of Australia, including a 10-year term as governor.

Prior to that, he was chair of the Payments System Board (1998-2006), chair of the Australian Council of Financial Regulators (1998-2006), and a director at both Leighton Holdings Limited (2007-2013) and Woolworths Limited (2007-2015).

Commenting on his departure, ANZ chair, David Gonski, said: "Ian has served as a non-executive director with great distinction since he joined the board in February 2007. This included very ably chairing the board risk committee over a period of great regulatory change and increased focus...Ian has given significant service to ANZ and we thank him for his contribution."