Macquarie announces board appointments

Macquarie Group chairman Peter Warne has announced the appointment of Jillian Broadbent to the Macquarie Group Limited and the Macquarie Bank Limited boards as an independent non-executive director, effective as of Monday, 5 November.

Macquarie has also announced that Ms Broadbent will join the Board Risk Committee and the Board Nominating Committee.

Commenting on the appointment, Mr Warne said: “The Macquarie boards will benefit greatly from Ms Broadbent’s extensive investment banking industry knowledge and markets expertise, including her deep knowledge of risk management and regulation in these areas.

“She also has considerable executive management and listed company board experience.”

Ms Broadbent currently serves as chair of the board of Swiss Re Life and Health Australia, is chancellor of the University of Wollongong, and is currently a director of Woolworths Limited, the National Portrait Gallery of Australia and the Sydney Dance Company.

The new appointee previously served for 22 years at Bankers Trust Australia until 1998, initially as the economic strategist and then as executive director responsible for risk management of foreign exchange, interest rates and commodities.

Further, Ms Broadbent was a member of the Reserve Bank of Australia board between 1998 and 2013, and she has also served as chair of the board of Clean Energy Finance Corporation (CEFC) and as a director of ASX Limited, SBS, Coca-Cola Amatil, Woodside Petroleum, Qantas and Westfield Management Ltd. She has an honorary doctorate degree from the University of Western Sydney.

Ms Broadbent was also made an Officer of the Order of Australia in 2003 for service to economic and financial development in Australia and to the community through administrative support and charitable groups.

Ms Broadbent has also held roles in not-for-profit organisations, including the Salvation Army, the Art Gallery of New South Wales, the Australian Brandenburg Orchestra and the National Institute of Dramatic Art. She was a recipient of the Australian Centenary Medal in 2001 for her contribution to the community.

Macquarie noted that the appointment of Ms Broadbent as an independent director will result in the Macquarie Group board comprising 12 members (Macquarie Bank membership, 13), including 10 independent non-executive directors.

[Related: Bank announces board departure]