Last month it was reveled that former RBA governor, Glenn Stevens, has taken on separate roles as an advisor at Ellerston Capital’s new global macro fund, as well as Perth-based hedge fund investor NWQ.
Now Stevens has sunk further into the FIRE economy pit, joining the board of king parasite, Macquarie. From The SMH:
Former Reserve Bank of Australia governor Glenn Stevens is joining the boards of Macquarie Group and Macquarie Bank as the Millionaires Factory posted yet another record first-half profit.
Mr Stevens, who was governor of the RBA between 2006 and 2016, will become an independent director on both boards from November 1, Macquarie said in a statement to the ASX…
Macquarie Group chairman Peter Warne said Mr Stevens “brings a unique perspective, not only regarding the drivers of Australia’s economy, but also of the international economies from which Macquarie derives the majority of its income.
“Glenn is an internationally respected central banker who has contributed significantly to Australia’s economic success,” Mr Warne said.
Obviously, the million dollar-plus salary and generous defined benefit super gained as governor of the RBA wasn’t enough!
