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David Clarke retires as Executive Chairman of Macquarie Bank and continues as Non-Executive Chairman |
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23 February 2007 Executive Chairman of Macquarie Bank, Mr David Clarke AO, today announced his intention to retire from executive responsibilities on March 31, 2007, and he will continue as the non-executive Chairman of the Bank. At the same time Mr Clarke will also retire as Chairman from the following Macquarie ASX- listed property trusts – Macquarie CountryWide, Macquarie ProLogis, and Macquarie Office. He will also step down from his position on the Bank’s Executive Committee. Mr Clarke will continue as Chairman of the Macquarie Bank Foundation. Mr Clarke is currently the longest serving employee of the Bank, with over 35 years of continuous service. Mr Clarke joined Macquarie Bank’s predecessor, Hill Samuel Australia in 1971 as Joint Managing Director. From 1977 until 1984 he was Managing Director of Hill Samuel Australia Ltd and became the Executive Chairman of Macquarie Bank when it was formed in 1985. When Mr Clarke joined Hill Samuel in 1971, the company had 12 employees. Macquarie Bank now employs approximately 10,000 people in 24 locations worldwide and is a significant Australian-based exporter of financial services. Investors in Macquarie Bank have enjoyed an annual compound internal rate of return of approximately 29% since the Bank was formed in 1985. This means that an investment of $10,000 in Macquarie Bank shares in 1985 is now worth approximately $2,740,000 today[1]. “As I have previously indicated to shareholder and investors, I have been contemplating this move for some time. I have spent most of my working life with Macquarie and look forward to continuing that association as Non-Executive Chairman for some time to come,” Mr Clarke said. [1] Assuming that all dividends have been reinvested and corporate actions accounted for. For further information, please contact:
Matthew Russell
Erica Sibree |
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information | Privacy
policy Macquarie Bank Limited ABN 46 008 583 542 |
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Where we provide any advice on this website, it has been prepared without considering your objectives, financial situation or needs. Before acting on any advice on this website, you should consider its appropriateness to your circumstances and, if a current offer document is available, read the offer document before acquiring products named on this website. Past performance of any product described on this site is not a reliable indication of future performance. Any Macquarie subsidiary noted on this page is
not an authorised deposit-taking institution for the purposes of the Banking
Act (Cwth) 1959. That subsidiary's obligations do not represent deposits
or other liabilities of Macquarie Bank Limited ABN 46 008 583 542 (MBL).
MBL does not guarantee or otherwise provide assurance in respect of the
obligations of that subsidiary, unless noted otherwise. |
