I am pleased to announce the appointment of Mr Robert McLean as a part-time member of the Payments System Board (PSB) for a term of five years.
Mr Robert McLean has extensive academic and private experience. He is a former Dean of the Australian Graduate School of Management and is currently Chairman of Elders Australia Ltd, Imagination Entertainment and of Greenway Capital Ltd. He is a Senior Advisor to McKinsey, where he was Managing Director of the Australian and New Zealand practice. Previously, Mr McLean has held Directorships for CSR Ltd, Pacific Dunlop and GS Private Equity. He is Chairman of Social Ventures Australia, Chairman of the Nature Conservancy in Australia and a director of the Centre for Independent Studies.
The PSB was established on 1 July 1998 as a Board of the Reserve Bank of Australia (RBA). The Board determines the RBA’s payments system policy and is responsible for the stability of, and competition and efficiency within, the payments system.
The Reserve Bank Act 1959 provides for up to eight members of the PSB including the Governor of the RBA and one other RBA representative, one representative from the Australian Prudential Regulation Authority and up to five independent members.
The other members of the PSB are: Mr Glenn Stevens (Chairman), Dr Philip Lowe (Deputy Chairman), Dr John Laker, Mr Joseph Gersh, Ms Susan McCarthy and Mr John Poynton.