Glenn Stevens is joining Macquarie Bank

Former Reserve Bank governor Glenn Stevens. Photo: William West/Getty Images

Former RBA governor Glenn Stevens is joining the board of directors at Macquarie Bank.

He starts as an independent director at Macquarie Group Limited, effective Wednesday next week.

Macquarie CEO Nicholas Moore says Stevens worked at the highest levels of the Reserve Bank of Australia for 20 years, most recently as governor between 2006 and 2016.

“He led policy decisions through the global financial crisis, Australia’s mining boom, and an extended period of low interest rates and developed Australia’s successful inflation targeting framework for monetary policy,” says Moore.

Macquarie today posted a 19% rise in net profit to $1.25 billion for the first half and announced an on-market share buyback of up to $1 billion.

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