Former RBA governor Lowe joins Barrenjoey board
Former Reserve Bank of Australia (RBA) governor Philip Lowe has been appointed to Barrenjoey’s board as an independent non-executive director.
Lowe worked at the central bank for over 40 years and was the governor of the RBA from 2016 until his departure last year when he was replaced by Michele Bullock.
In an announcement on 26 September, Australian financial services firm Barrenjoey confirmed Lowe’s appointment to its board, effective immediately.
As Barrenjoey’s third independent non-executive director, Lowe joins its independent chairman David Gonski AC and former federal cabinet minister Kelly O’Dwyer, alongside representatives of Barrenjoey’s shareholders and management.
Gonski recognised the former RBA governor as an “outstanding member of the Australian business community” and welcomed the vast experience he holds in financial markets.
“After a successful tenure as governor of the Reserve Bank of Australia, we’re delighted to welcome Dr Lowe to the board of Barrenjoey. His deep expertise in policy and intimate knowledge of markets will bring value to the board, and also to Barrenjoey’s clients and staff,” he commented.
Barrenjoey was established in 2020 and is backed by Magellan Financial Group and Barclays Investment Bank. The firm operates across five business segments, including equities, research, fixed income, corporate finance and private capital.
The announcement comes six months after Lowe was appointed to Future Generation Australia’s board as its chair in March 2024.
He took over the role from former NSW premier Mike Baird, who held the role for the past two years, although Baird remained on the board as an independent director.
Commenting on his appointment at the time, Lowe said: “I think the Future Generation model is brilliant. I have always strived to be associated with organisations that enhance the welfare of Australians, so it’s a privilege to work with Future Generation Australia’s shareholders and pro bono fund managers to support our most vulnerable youth.”
Future Generation, which listed on the ASX in 2014, is a listed investment company providing investment returns for shareholders and investment in Australian not-for-profits.
AUTHOR
Jasmine Siljic
Recommended for you
Clime Investment Management has welcomed an independent director to its board, which follows a series of recent appointments at the company.
Ethical investment manager Australian Ethical has cited the ongoing challenging market environment for its modest decrease in assets over the latest quarter.
Commentators have said Australian fund managers are less knowledgeable compared with overseas peers when it comes to expanding their range with ETFs and underestimating the competition from passive strategies.
VanEck is to list two ETFs on the ASX next week, one investing in residential mortgage-backed securities and the other in Indian companies.
