Macquarie appoints Hawker to board

Former Insurance Australia Group Ltd chief executive Michael Hawker has been appointed to the board of investment bank Macquarie Group Ltd.

His appointment as a non-executive director is effective immediately.

Mr Hawker serves as a director on the board of UK insurer Aviva Plc Group, and he will remain based in London while serving on the Macquarie Group board.

He was chief executive and managing director of Insurance Australia Group from 2001 to 2008, when he resigned amid shareholder anger over the company's rejection of a takeover bid from QBE Insurance Group Ltd.

At the time he admitted he had lost the confidence of a number of shareholders, a situation he described as untenable.

Prior to his tenure at IAG, Mr Hawker was general manager of financial markets at Westpac, and group executive of business and consumer banking.

Mr Hawker's experience in the financial services sector has also included 11 years with Citibank in Australia and the United Kingdom.

He was formerly a deputy managing director for Australia and head of derivatives in Europe.

"Michael's appointment will represent an important addition to the skill base of our board," Macquarie Group chairman David Clarke said.

Mr Hawker, a former Wallabies' centre, sits on the board of the Australian Rugby Union, and is chairman of trustees of the Giant Steps Foundation.

The appointment of Mr Hawker brings the Macquarie Group board membership to nine, including seven independent non-executive directors.

Macquarie Group shares lost 20 cents on Monday to $49.22.