Macfarlane spent 10 years as head of the Reserve Bank between 1996 and 2006. He held the position during one of AustraliaÆs most prosperous periods û the country is in its 18th year of economic expansion.
According to a statement issued by Goldman, Macfarlane will work with the firm and its clients globally to give a broad range of strategic advice. ôIan brings with him almost three decades of economic and public policy experience,ö says Craig Drummond, the recently promoted chief executive officer of Goldman Sachs JBWere, the investment bankÆs partnership in Australia. ôIanÆs wealth of experience in managing multiple stakeholder groups and complex matters will add considerable value to our clients,ö adds Drummond.
The position with Goldman is one of several roles that Macfarlane has signed up to since leaving the Reserve Bank. This year he has been appointed as a non-executive director of ANZ Bank and retailer Woolworths. He is also a director at the Lowy Institute for International Policy, a global think tank based in Sydney whose founder and chairman is the patriarch of the Westfield empire, Frank Lowy.
During his time with the Reserve Bank, Macfarlane was also the inaugural chairman of the Asian Consultative Council for the BIS, chairman of the Payment Systems Board and chairman of the Council of Financial Regulators.