David Morgan (businessman)
Encyclopedia
David Raymond Morgan AO
is the former CEO and Managing Director of Westpac Banking Corporation
, one of Australia
's four major banks and Chairman of the Australian Bankers Association.
. Morgan played professional Australian Rules Football in the ACT before being approached by the Richmond Football Club, where he only played a few games in the pre-season before moving to London.
Morgan was educated at Malvern Grammar School and later Melbourne High School.He studied economics at La Trobe University
(1st Class Honours), before studying at the London School of Economics
where he received a Master of Science in Economics (with Distinction) and a Doctorate of Philosophy (Economics). He is also a graduate of Harvard Business School
, where he completed the Advanced Management Program. While at La Trobe, Morgan was foundation President of the Sports Union, foundation Captain of the football team and also captain of the University’s first cricket team. He played for the All Australian Universities football team and was picked in the opening Richmond
AFL side of 1972. He set a new goal kicking record of 176 goals playing for La Trobe in the Panton Hills League.
Morgan is married to Ros Kelly
, a former minister in the governments of Bob Hawke
and Paul Keating
. His son, Benjamin David Morgan, is also studying at the London School of Economics in 2009.
in the 1970s, and the Australia
n Federal Treasury during the 1980s. Morgan reached the position of Senior Deputy Secretary during the Hawke
-Keating
federal government
, where he contributed to government policy for the financial sector, specifically supporting the floating of the Australian dollar
as well as financial deregulation more generally. He joined Westpac in 1990 as Deputy Managing Director of Westpac Financial Services Group and was appointed to the position of Chief General Manager, Asia Pacific Group in October 1991. In November 1992, he was appointed to the position of Group Executive, Retail Banking Group. After running the Retail Bank for two years, Dr Morgan was then appointed to the position of Group Executive, Institutional and International Banking Group and was appointed CEO in 1999. In December 2006, he announced that he would not be seeking another term as CEO of Westpac. In 2008 he retired as CEO of Westpac.
. Since leaving Westpac he took up a directorship at BHP Billiton
and subsequently moved to London to head up the private equity group JC Flowers
. Morgan is currently a Non-Executive Director at Castle Trust (see - http://www.castletrust.co.uk/about-us/who-we-are).
He was made an Officer of the Order of Australia in 2009.
Order of Australia
The Order of Australia is an order of chivalry established on 14 February 1975 by Elizabeth II, Queen of Australia, "for the purpose of according recognition to Australian citizens and other persons for achievement or for meritorious service"...
is the former CEO and Managing Director of Westpac Banking Corporation
Westpac
Westpac , is a multinational financial services, one of the Australian "big four" banks and the second-largest bank in New Zealand....
, one of Australia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
's four major banks and Chairman of the Australian Bankers Association.
Early life, education and personal life
Spending his childhood as a child actor on shows including 'The Sea Spray' and 'The Terrible Ten', Morgan was also featured in a movie called 'Funny Things Happen Down Under' appearing alongside Olivia Newton-JohnOlivia Newton-John
Olivia Newton-John AO, OBE is a singer and actress. She is a four-time Grammy award winner who has amassed five No. 1 and ten other Top Ten Billboard Hot 100 singles and two No. 1 Billboard 200 solo albums. Eleven of her singles and 14 of her albums have been certified gold by the RIAA...
. Morgan played professional Australian Rules Football in the ACT before being approached by the Richmond Football Club, where he only played a few games in the pre-season before moving to London.
Morgan was educated at Malvern Grammar School and later Melbourne High School.He studied economics at La Trobe University
La Trobe University
La Trobe University is a multi-campus university in Victoria, Australia. It was established in 1964 by an Act of Parliament to become the third oldest university in the state of Victoria. The main campus of La Trobe is located in the Melbourne suburb of Bundoora; two other major campuses are...
(1st Class Honours), before studying at the London School of Economics
London School of Economics
The London School of Economics and Political Science is a public research university specialised in the social sciences located in London, United Kingdom, and a constituent college of the federal University of London...
where he received a Master of Science in Economics (with Distinction) and a Doctorate of Philosophy (Economics). He is also a graduate of Harvard Business School
Harvard Business School
Harvard Business School is the graduate business school of Harvard University in Boston, Massachusetts, United States and is widely recognized as one of the top business schools in the world. The school offers the world's largest full-time MBA program, doctoral programs, and many executive...
, where he completed the Advanced Management Program. While at La Trobe, Morgan was foundation President of the Sports Union, foundation Captain of the football team and also captain of the University’s first cricket team. He played for the All Australian Universities football team and was picked in the opening Richmond
Richmond, Victoria
Richmond is a suburb in Melbourne, Victoria, Australia, 3 km south-east from Melbourne's central business district. Its Local Government Area is the City of Yarra...
AFL side of 1972. He set a new goal kicking record of 176 goals playing for La Trobe in the Panton Hills League.
Morgan is married to Ros Kelly
Ros Kelly
Ros Kelly AO was a member of the Australian House of Representatives for the Division of Canberra from 18 October 1980 to 30 January 1995. She was a minister in the governments of Bob Hawke and Paul Keating....
, a former minister in the governments of Bob Hawke
Bob Hawke
Robert James Lee "Bob" Hawke AC GCL was the 23rd Prime Minister of Australia from March 1983 to December 1991 and therefore longest serving Australian Labor Party Prime Minister....
and Paul Keating
Paul Keating
Paul John Keating was the 24th Prime Minister of Australia, serving from 1991 to 1996. Keating was elected as the federal Labor member for Blaxland in 1969 and came to prominence as the reformist treasurer of the Hawke Labor government, which came to power at the 1983 election...
. His son, Benjamin David Morgan, is also studying at the London School of Economics in 2009.
Professional career
Morgan's experience prior to joining Westpac was primarily in the government and the financial sectors, having worked both for the International Monetary FundInternational Monetary Fund
The International Monetary Fund is an organization of 187 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world...
in the 1970s, and the Australia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
n Federal Treasury during the 1980s. Morgan reached the position of Senior Deputy Secretary during the Hawke
Bob Hawke
Robert James Lee "Bob" Hawke AC GCL was the 23rd Prime Minister of Australia from March 1983 to December 1991 and therefore longest serving Australian Labor Party Prime Minister....
-Keating
Paul Keating
Paul John Keating was the 24th Prime Minister of Australia, serving from 1991 to 1996. Keating was elected as the federal Labor member for Blaxland in 1969 and came to prominence as the reformist treasurer of the Hawke Labor government, which came to power at the 1983 election...
federal government
Government of Australia
The Commonwealth of Australia is a federal constitutional monarchy under a parliamentary democracy. The Commonwealth of Australia was formed in 1901 as a result of an agreement among six self-governing British colonies, which became the six states...
, where he contributed to government policy for the financial sector, specifically supporting the floating of the Australian dollar
Australian dollar
The Australian dollar is the currency of the Commonwealth of Australia, including Christmas Island, Cocos Islands, and Norfolk Island, as well as the independent Pacific Island states of Kiribati, Nauru and Tuvalu...
as well as financial deregulation more generally. He joined Westpac in 1990 as Deputy Managing Director of Westpac Financial Services Group and was appointed to the position of Chief General Manager, Asia Pacific Group in October 1991. In November 1992, he was appointed to the position of Group Executive, Retail Banking Group. After running the Retail Bank for two years, Dr Morgan was then appointed to the position of Group Executive, Institutional and International Banking Group and was appointed CEO in 1999. In December 2006, he announced that he would not be seeking another term as CEO of Westpac. In 2008 he retired as CEO of Westpac.
Current occupation
Morgan is the former Chief Executive Officer and Managing Director of WestpacWestpac
Westpac , is a multinational financial services, one of the Australian "big four" banks and the second-largest bank in New Zealand....
. Since leaving Westpac he took up a directorship at BHP Billiton
BHP Billiton
BHP Billiton is a global mining, oil and gas company headquartered in Melbourne, Australia and with a major management office in London, United Kingdom...
and subsequently moved to London to head up the private equity group JC Flowers
JC Flowers
J.C. Flowers & Co. is a private equity investment firm, focused on investments in the financial services sector. The firm, founded in 2001, is based in New York City and run by billionaire J. Christopher Flowers, a former Goldman Sachs partner....
. Morgan is currently a Non-Executive Director at Castle Trust (see - http://www.castletrust.co.uk/about-us/who-we-are).
He was made an Officer of the Order of Australia in 2009.