Macquarie Names Ex-RBA Governor Glenn Stevens as New Chair

Macquarie Group has appointed a former Reserve Bank of Australia governor to take over as chair of the financial services group.

Glenn Stevens, who served as central bank governor between 2006 and 2016, will take over from Peter Warne after the release of the group’s full-year results in May 2022.

Stevens became an independent voting director at the company in November 2017.

As governor, he led Australia’s successful inflation targeting framework for monetary policy and played a significant role in central banking internationally.

He is a former chair of the Australia’s Council of Financial Regulators and a former member of the Financial Stability Board and on a range of G20 committees.

Warne led the Australian asset manager as chair for five years and has been a director of both the group and its banking unit since 2007.

Growth Trajectory

Warne signalled his intention to retire from Macquarie’s board in July 2019.

He said Macquarie had “continued its strong growth trajectory, meeting broad areas of community need through different market cycles, not least over the last two years of the Covid-19 pandemic”.

Macquarie is one of the world’s biggest infrastructure investors, with stakes in Cadent, the gas distribution network, and KCom, a fibre telecoms business in the UK.

Diane Grady, a voting director at the group, will also retire in late February next year, the company said.

George Russell

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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.