Clarence McKerihan
Sir Clarence Roy McKerihan | |
|---|---|
| Born | Template:Birth date Tenterfield, Colony of New South Wales |
| Died | December 28, 1969 (aged 73) St Luke's Hospital, Potts Point, Australia |
| Occupation | Banker |
| Known for | Commissioner and President of the Rural Bank of New South Wales (1933–1961) |
Sir Clarence Roy McKerihan (6 May 1896 – 28 December 1969), commonly referred to as Roy McKerihan or C. R. McKerihan, was a prominent Australian banker who held the positions of commissioner and President of the Rural Bank of New South Wales for a lengthy tenure spanning from 1933 to 1961.
Early life and career
McKerihan was born in Tenterfield, within the Colony of New South Wales. He was the son of Edward McKerihan, an Ulster Scots draper originally from Ireland, and Elizabeth Jane Gillespie, who hailed from Inverell. His given name paid homage to the Clarence River, symbolizing his family's connection to the region. His education took place at public schools across Tamworth, Tenterfield, and later Casino Superior Public School, where his father was a respected entrepreneur and community leader. Additionally, McKerihan devoted six years to service in the Casino unit of the Australian Army Cadets.
In 1912, he commenced his banking career as a junior clerk at the Casino branch of the Government Savings Bank of New South Wales. After successfully passing the examination administered by the NSW Institute of Bankers, he relocated in 1913 to Grafton following his family’s move. At nineteen years old, in 1915, he enlisted in the First Australian Imperial Force, serving with the 4th Battalion during the Gallipoli campaign at the Battle of Lone Pine. By early 1916, he had risen through ranks to lance sergeant and was subsequently transferred to the 56th Battalion. Tragically, his brother Harold, who held the rank of lieutenant with the 2nd Battalion, succumbed to injuries sustained at Gallipoli.
In March 1916, McKerihan joined the Australian War Records Section, where he served in both France and Britain and attained the rank of Warrant Officer Class I by 1917. He was honored with the Meritorious Service Medal in 1919 before returning to Australia later that year.
Following his military service, McKerihan resumed employment at the Government Savings Bank as a loans officer based at its Sydney headquarters. He became part of its newly established rural department in 1921. That same year, he married Dorothy Juanita McCallum; together they had two daughters. The family’s residences included Bondi initially, followed by moves to Cremorne in 1930, and later Bellevue Hill and Rose Bay.
By 1925, McKerihan had assumed presidency of the Government Savings Bank Officers' Association and subsequently undertook leadership roles within the United Bank Officers' Association beginning in 1926. At age 32 in 1928, he advanced to chief clerk of the Rural Bank Department and was appointed a Justice of the Peace in November 1929.
Rural Bank
At the onset of 1931, amid the Great Depression’s financial turmoil, the Government Savings Bank encountered severe difficulties leading to suspension of payments on 22 April 1931. Subsequently, on 15 December that year, most bank operations were merged into the Commonwealth Savings Bank, while its Rural Bank and Advance Homes Departments persisted as separate entities. Towards late 1932, under NSW Government leadership including Assistant Treasurer Eric Spooner, these remaining divisions were reorganized into what became known as the "Rural Bank of New South Wales". This institution’s focus shifted exclusively toward supporting primary industries rather than providing general lending services and was governed by a board comprising three commissioners.
The legislative framework for this transformation was established by the Rural Bank of New South Wales Act, 1932, enacted on 23 December 1932. The new bank officially commenced operations on 1 July 1933. McKerihan was appointed one of its inaugural three commissioners alongside William O'Malley Wood (president) and Henry Rogers. Following O'Malley’s retirement in April 1934, McKerihan assumed leadership as president and general manager on 18 April 1934 at age 38.
His appointment garnered commendations due to his rural upbringing and deep knowledge of agricultural sectors. The Wellington Times praised his capacity to align banking policies with rural development goals and initiatives promoting closer settlement.
Throughout his presidency, McKerihan guided the institution out of Depression-era challenges by encouraging investment in construction projects, broadening assistance to small-scale rural producers, and relaxing lending criteria for rural housing developments. By 1953, advances made through the Rural Bank Homes Department exceeded 65,000 loans totaling , while cumulative rural loans since his tenure began surpassed .
McKerihan also led efforts to establish a new headquarters on Martin Place by securing property for . The building featured a modern Art Deco design crafted by chief architect Frank William Turner. The foundation stone was laid by McKerihan himself in December 1935. Upon its official opening on 15 December 1936, it received acclaim for its dignified architectural style and extensive use of Australian-sourced materials.
With World War II commencing, McKerihan took on responsibilities as honorary general secretary and federal administrator for the Australian Comforts Fund starting March 1940. He managed distribution exceeding , maintained administrative expenses at only three percent, and utilized Rural Bank personnel for operational support. During 1944–45 he visited ACF facilities across New Guinea, Borneo, and occupied Japan and advocated continued support for servicemen after hostilities ended.
McKerihan remained at Rural Bank’s helm until his retirement in May 1961 after serving for nearly three decades. When he began as commissioner in 1933, no branches existed and staff numbered just over three hundred; by 1945 branch count had grown to fifty-seven with a workforce of approximately fifteen hundred employees; this expanded further to one hundred thirty-four branches upon his departure.
Later life
In 1938, McKerihan took on the role of director and later served as president of the Crown Street Women's Hospital from 1946 until 1963, additionally leading its board until his retirement that same year. He maintained an active presence within Sydney’s commercial and community sectors, holding memberships in organizations such as the Freemasons, Rotary International, and Legacy Australia. His leadership extended to various positions including president of the National Trust of Australia (NSW), councillor of the Australian-American Association, treasurer for the United Nations Association of Australia, trustee of Ku-ring-gai Chase National Park between 1956 and 1963, federal director of the Arts Council of Australia, as well as serving as elder and deacon at St Stephen's Presbyterian Church on Macquarie Street. McKerihan was also associated with the Australian Club, Royal Sydney Golf Club, and Rose Bay Bowling Club.
Acknowledged for his significant impact on rural development, healthcare services, and social welfare, he was honored as a Commander of the Order of the British Empire (CBE) in 1958. Subsequently, he received a knighthood in 1967 during an investiture held at Government House, Canberra by Governor-General Lord Casey. McKerihan passed away at the age of 73 on 28 December 1969 at St Luke's Hospital in Potts Point, leaving behind his wife and two daughters.
Honours
- Meritorious Service Medal, awarded in 1919
- 1914–15 Star, British War Medal, Victory Medal (United Kingdom)
- King George V Silver Jubilee Medal, 1935
- King George VI Coronation Medal, 1937
- Queen Elizabeth II Coronation Medal, 1953
- Commander of the Order of the British Empire (CBE), New Year Honours 1958
- Knight Bachelor, New Year Honours 1967