Sydney, 07 August 2013
Macquarie Group and Macquarie Bank Chairman, Kevin McCann, today announced the appointment of Patricia Cross to the Macquarie Group Limited (ASX: MQG; ADR:MQBKY) and the Macquarie Bank Limited (ASX: MBL) boards as an independent non-executive director. The appointments are effective today.
Mr McCann said Ms Cross’ extensive expertise in international capital markets, financial risk management and treasury as well as her significant experience as a company director of financial and wealth management corporations would add significant financial expertise to the Macquarie Board.
Ms Cross is currently a director of Qantas Airways Limited, a founding director of the Grattan Institute, a member of the National Board of Directors of the Australian Institute of Company Directors, and an Australian Indigenous Education Foundation ambassador.
She has seventeen years’ experience as a non-executive director having previously served on the boards of companies including National Australia Bank Limited, JBWere, Wesfarmers Limited, AMP Limited, Suncorp Metway Limited and as Chairman of Qantas Superannuation Limited. Ms Cross has held a number of honorary government positions, including five years as a founding member of the Financial Sector Advisory Council, APEC Business Advisory Council, and as a member of the Panel of Experts to the Australia as a Financial Centre Forum. She has also served on a wide range of not for profit boards, including the Murdoch Children’s Research Institute.
During her financial services career, Ms Cross held senior executive roles with Chase Manhattan Bank and Chase Investment Bank in New York, Helsinki and London, Banque Nationale de Paris and National Australia Bank. At National Australia Bank, Ms Cross was responsible for the Wholesale Banking and Finance Division and was a member of the Executive Committee.
Ms Cross holds an honours degree in international economics from Georgetown University, and is a Fellow of the Australian Institute of Company Directors. She received the Centenary Medal in 2003 for services to the financial services industry.
Macquarie’s Policy on Board Renewal and Appointment of Directors and Corporate Governance Statement, which are available on Macquarie’s website, summarise the terms of Ms Cross’ appointment.