John McFarlane
John McFarlane | |
|---|---|
| Born | June 14, 1947 Dumfries, Scotland |
| Occupation | Banking executive |
| Years active | 1969–present |
| Known for | Chairman of Barclays (2015–2019), Chairman of Westpac (2020–2023) |
John McFarlane OBE (born 14 June 1947) is a prominent British executive who held the position of group chairman at Barclays between 2015 and 2019, and subsequently served as Chairman of Westpac from 2020 until 2023.
Early life
McFarlane was born in Dumfries, Scotland, and pursued his education at the University of Edinburgh, followed by advanced studies at Cranfield and London Business School.
Career
Starting his professional journey in manufacturing with Ford of Europe in 1969, McFarlane later transitioned into the banking sector. He dedicated eighteen years to Citibank, where he ultimately oversaw operations in both Ireland and the United Kingdom. In 1993, he assumed the role of Group Executive Director at Standard Chartered Plc., with responsibilities spanning London and Hong Kong. Subsequently, he was appointed CEO of the Australia and New Zealand Banking Group Ltd. (ANZ), a leading Australian financial institution, where he enhanced financial outcomes and spearheaded the "Breakout" transformation program before retiring in 2007.
In October 2008, McFarlane joined the board of the Royal Bank of Scotland as a non-executive director. He became a member of the board at Aviva plc in September 2011 and was elevated to chairman in July 2012 after serving as deputy chairman and executive deputy chairman. His leadership roles also included serving as president of the International Monetary Conference and chairing the Australian Bankers' Association. His governance expertise is reflected through his participation on the Bank of England Financial Law Review Panel and by leading The McFarlane Report, which focused on auditing developments within the UK and Ireland.
Appointed chairman of FirstGroup in December 2013, McFarlane was named chairman of Barclays in September 2014, officially joining their board in January 2015. During a transition period for Barclays’ CEO, he acted as executive chairman starting July 2015. Additionally, he chaired TheCityUK, an organization representing the financial services sector.
McFarlane contributed to a 2018 collection addressing banking sector challenges following the 2008 financial crisis. In November 2018, Barclays announced that he would step down as chairman in May 2019.
He joined the board of Westpac in April 2020 and remained its chairman until December 2023.
Personal life
McFarlane is connected by family to English broadcaster Richard Bacon, who is married to his daughter Rebecca.
Honours
McFarlane was recognized in the 1995 Birthday Honours with an appointment as an Officer of the Order of the British Empire (OBE) for his contributions to the finance sector. In 2001, he received the Centenary Medal acknowledging his leadership within Australian business. He holds fellowships in banking and securities across the UK, Australia, and Hong Kong, and is also a Fellow of the Royal Society of Arts.