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Ian Macfarlane, AC is the former Governor of the Reserve Bank of Australia (RBA), holding this position during a period of exceptional economic growth and stability. He is currently holds directorships with Woolworths Limited, the ANZ bank, Leighton Holdings, and the Lowy Institute for International Policy.
After completing his studies at Monash University, Mr Macfarlane tutored in economics before joining the RBA in 1970. From 1971-72, he worked at the Institute of Economics and Statistics at Oxford University. He then moved to the Organisation for Economic Co-operation and Development (OECD) in Paris, where he served until 1978, before returning to the RBA. He became head of the bank’s research department in 1988, Assistant Governor (Economic) in 1990, Deputy Governor in 1992 and Governor in 1996.
In 1996, Monash University presented Mr Macfarlane with a Distinguished Alumni Award for his “outstanding perception and leadership” in the areas of economics and central banking. In 2007, the University also awarded him with an Honorary Doctor of Laws.
In 2004, Mr Macfarlane was awarded a Companion of the Order of Australia “for service to the stabilisation of the Australian financial system, to central banking, and to the operation of monetary and economic policy both in domestic and international spheres”.
Mr Macfarlane stepped down from his ten-year governorship at the RBA in 2006, where he was also chairman of the Payment Systems Board and chairman of the Council of Financial Regulators. In 2007, Mr Macfarlane was elected a non-executive director the ANZ bank and a director of Woolworths Limited, Australia’s largest food retailer and the country’s second largest employer. He is also a director at Leighton Holdings and at the Lowy Institute for International Policy.
Links:
Distinguished Alumni Awards1996 recipient
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