Macquarie Premium Funding Appointment

30 June 2006

Sydney: Macquarie Bank Limited (“Macquarie”) has appointed Associate Director Rachael Lavars to the position of Head of Macquarie Premium Funding.

Lavars will have overall responsibility for both driving national growth of the business and continued delivery of specialist offerings to the premium funding industry.

Lavars, based in Sydney, has more than 10 years experience in business banking. She began her career with Macquarie’s Business Banking Division in 2001 as a Relationship Manager where she specialised in providing banking services to insurance brokers.

She played a pivotal role in developing Macquarie Premium Funding (MPF), joining the MPF team full-time in 2003.

It was also announced that Senior Manager Paul Schofield has expanded his role from head of Sales for Macquarie Premium Funding to include responsibility for business banking sales to insurance brokers in NSW.

Following the appointment, Ms Lavars said: “I am excited about the opportunity to build upon the platform we’ve established for MPF in recent years. The current premium funding market is proving challenging with soft insurance market conditions and strong competition. These conditions make us more committed than ever to deliver new solutions to help brokers improve back office efficiencies, boost profitability and grow their business.”

Ms Lavars assumes responsibility from Associate Director Paul Cilia, recently promoted head of Macquarie’s new National Insurance Broking Services Team. Ms Lavars is also responsible for the Sydney Insurance Broking Services Team.

“Rachel is highly regarded by Macquarie’s insurance broking clients and colleagues nationally. She has exceptional industry knowledge - from wholesale premium funding to merger and acquisitions and management buy-outs – and is very well-positioned to take Macquarie Premium Funding to the next level.”

For further information, please contact:

Suzanne Houweling
Senior Media Manager
Banking Division
Tel: 02 8232 7029
0410 499 034

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