Press Release

Diane Grady joins Macquarie Group Board

Sydney, 29 April 2011

Macquarie Group and Macquarie Bank Chairman, Kevin McCann, today announced the appointment of Ms Diane Grady to the Macquarie Group Limited (ASX: MQG; ADR: MQBKY) Board and the Macquarie Bank Limited (ASX: MBL) Board as an independent non-executive director.  The appointments will be effective on 19 May 2011.

Mr McCann said Ms Grady’s experience as a director of major listed Australian companies with international businesses and her background in strategy and operational issues would be of great benefit to Macquarie.

Ms Grady has been a full time independent director since 1994 and has served on boards including Woolworths Ltd (1996-2010), Goodman Group (1997-2010), Lend Lease (1994-2002) and MLC (1996 - 2002) and is currently a Director of Bluescope Steel Ltd.  She was also president of Chief Executive Women from 2002 to 2004 and chaired the group’s taskforce which published the CEO Kit for Attracting and Retaining Female Talent.

Previously, she was a partner at McKinsey & Company where she spent 15 years consulting to clients in a broad range of industries on strategic and operational issues.  She was a worldwide leader of the firm’s Organisation and Change Management Practice and the first woman outside the US to be elected to McKinsey’s global partnership.  In Australia, where she emigrated from the US in 1979, she headed McKinsey’s Consumer Goods, Retailing and Marketing Practice.

Ms Grady earned an MBA from Harvard Business School and holds a Masters in Chinese Studies from the University of Hawaii. She also spent three years in Taiwan working for a Chinese-owned publications company. Ms Grady was made a member of the Order of Australia in 2009 for her contribution to business and to the promotion of women leaders and in 2001 received the Centenary Medal for service to Australian society through business leadership.  

Mr McCann said, “Diane Grady’s appointment is a significant addition to the Board’s skill set and experience.  We look forward to her contribution to the Board.”

The appointment of Ms Grady as an Independent Director will bring the Macquarie Group Board membership to nine (Macquarie Bank membership to ten), including eight Independent Non-Executive Directors.


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