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Macquarie Group chairman resigns

Macquarie Group chairman resigns

Macquarie Group (ASX:MQG) and Macquarie Bank (ASX:MBL) chairman David Clarke has resigned from the group after 40 years.

Clarke, who is stepping down for health reasons, was appointed joint managing director of Hill Samuel Australia – the company that was to become Macquarie – in 1971.

He served as executive chairman of Macquarie Bank from its foundation in 1985 until March 2007.

Clarke has been replaced by Kevin McCann, Macquarie's lead independent director.

McCann has been an independent voting director of Macquarie Group since August 2007, and has prior experience in his current role – he was acting chairman of both entities between November 2008 and August 2009.

He also serves as chairman of Origin Energy (ASX:ORG) and on the board of BlueScope Steel (ASX:BSL).

MQG shares grew 0.09% on Thursday to $34.710.

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Tags Macquarie BankASX:MBLDavid ClarkeMacquarie GroupKevin McCannASX:MQG

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