Mark Barnaba AM has agreed to serve another year on the Reserve Bank Board at my request.
Mr Barnaba’s current five‑year term as a part‑time member on the Reserve Bank Board is due to expire on 30 August 2022.
The Albanese Government will now extend Mr Barnaba’s term by a year, taking his tenure beyond the finalisation of a wide‑ranging review into the RBA.
An accomplished business leader, corporate adviser and non‑executive director, Mr Barnaba has been a well‑respected and valued member of the Reserve Bank Board since August 2017.
He is the current Chair of the RBA’s Audit Committee, Deputy Chair of Fortescue Metals Group Ltd and in 2015 was named a Member in the General Division of the Order of Australia for service to the investment banking and financial sectors, to business education, and to sporting and cultural organisations.
He is also former chair of the West Coast Eagles and a proud Western Australian.
I commend Mr Barnaba on his valuable contribution to the Board so far and sincerely thank him for agreeing to continue in this capacity for the next 12 months.