DAVID MORGAN ELECTED AS
AUSTRALIAN BANKERS’ ASSOCIATION’S NEW CHAIRMAN

Sydney, 27 June, 2005: The Council of the Australian Bankers’ Association (ABA) has elected David Morgan, Chief Executive Officer of Westpac, as the new ABA Chairman.
Dr Morgan succeeds Mr John McFarlane, Chief Executive Officer of the ANZ, who has successfully completed his two-year term. Dr Morgan acknowledged the work and effort of the retiring Chairman.

 “Through a very busy and challenging time for the ABA and the industry as a whole, John McFarlane has been an effective ABA Chairman in continuing to restore the reputation of the industry. I welcome the opportunity to continue this important work,” Dr Morgan said.

“I look forward to working with ABA CEO, David Bell, to develop banking-wide policy going forward that will play its part in a prosperous Australia.”

“A strong, stable banking system is essential to economic growth. I look forward to working on a range of banking and public policy issues, building on my longstanding interest in these areas.”

Mr McFarlane paid tribute to the industry for their support in embracing a change agenda.

 “It has been a great effort from all of the ABA members, the ABA Council and the staff of the ABA in responding to the changing needs of the industry and the community,” Mr McFarlane said.

“Without doubt, the highlight of my term as Chairman was the active engagement of the ABA with the community, and the real dialogue that was built, through the ABA’s Community and Consumer Consultative Forum.”  

“Also, the banking industry’s commitment to improving Australians’ financial literacy and to addressing this real problem in our society, reflects the industry’s renewed focus on the community.”

“We have a shared responsibility to assist the most vulnerable sections of the community, many of whom are struggling with financial skills.”
“I wish David Morgan well as the incoming Chairman.”

Mr McFarlane also thanked the outgoing Deputy Chairman, Les Matheson of Citigroup, for his support. The ABA Council has elected a new Deputy Chairman, Stuart Davis, CEO of HSBC Australasia.


For further information:

Heather Wellard
Director, ABA Public Relations
Phone: 02 8298 0411
Mobile: 0409 830 439
 

ENDS