David Raymond Morgan (born March 1947) is an Australian businessman. He has been respectively managing director, executive chairman and chairman of
J.C. Flowers & Co. in charge of Europe and Asia Pacific since December 2009. He also serves on the firm's Management Committee. He was previously a chairman of J.C. Flowers (Australia) Pty Limited and a global operating partner of JC Flowers & Co. LLC.
Morgan is also chairman of Chi-X (Australia), deputy chairman of NIBC Bank in the Netherlands and a member of the supervisory board of HSH Nordbank in Germany. He is senior advisor to the board of Shinsei Bank in Japan. He was formerly a non-executive director of One Savings Bank and Castle Trust in the UK.
He is the former CEO of Westpac Banking Corporation, one of Australia's four major banks and a global top 20 bank by market capitalization. He is a former chairman of the Australian Bankers Association.
Early life and education
As a child, Morgan was an actor on shows including ''
The Magic Boomerang
''The Magic Boomerang'' is an Australian children's adventure series set in rural Australia. It was produced by Pacific films and aired on the ABC in Australia.
Synopsis
The show follows the adventures of a young boy who can stop time by thr ...
'' and ''
The Adventures of the Terrible Ten
The ''Terrific Adventures of the Terrible Ten'', more commonly known as ''The Adventures of the Terrible Ten'', was an Australian children's TV show originally titled ''Ten Town'' that ran from 1959 to 1960. The series was filmed in rural Victor ...
''. He was also featured in the film ''
Funny Things Happen Down Under
''Funny Things Happen Down Under'' is a 1965 Australian-New Zealand musical film directed by Joe McCormick. It stars Olivia Newton-John, Ian Turpie and Howard Morrison, and is best remembered today for being Newton-John's first film.
Plot
The ...
'', appearing alongside
Olivia Newton-John
Dame Olivia Newton-John (26 September 1948 – 8 August 2022) was a British-Australian singer, actress and activist. She was a four-time Grammy Award winner whose music career included 15 top-ten singles, including 5 number-one singles on the ...
.
Morgan played professional Australian Rules Football in the Australian Capital Territory 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
Melbourne High School is a government-funded single-sex academically selective secondary day school for boys, located in the Melbourne suburb of South Yarra, Victoria, Australia. Established in 1905, the school caters for boys from Year 9 t ...
. He studied economics at
La Trobe University
La Trobe University is a public research university based in Melbourne, Victoria, Australia. Its main campus is located in the suburb of Bundoora. The university was established in 1964, becoming the third university in the state of Victoria an ...
(1st Class Honours, top of class), before studying at the
London School of Economics
, mottoeng = To understand the causes of things
, established =
, type = Public research university
, endowment = £240.8 million (2021)
, budget = £391.1 millio ...
where he received a Master of Science in economics (with Distinction, including the Ely Devons prize for top student) and a doctorate of philosophy (economics). He attended
Harvard Business School
Harvard Business School (HBS) is the graduate business school of Harvard University, a private research university in Boston, Massachusetts. It is consistently ranked among the top business schools in the world and offers a large full-time MBA p ...
's six-week 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 (1969) and All Australian Amateurs (1970) football teams and was picked in the opening
Richmond
Richmond most often refers to:
* Richmond, Virginia, the capital of Virginia, United States
* Richmond, London, a part of London
* Richmond, North Yorkshire, a town in England
* Richmond, British Columbia, a city in Canada
* Richmond, California, ...
Australian Football League side of 1972. He set a new goal kicking record of 176 goals playing for La Trobe University in the Panton Hills League (1969).
He is the author of the book ''Over Taxation by Inflation'', published by the
Institute of Economic Affairs
The Institute of Economic Affairs (IEA) is a right-wing pressure group and think tank registered as a UK charity Associated with the New Right, the IEA describes itself as an "educational research institute", and says that it seeks to "further t ...
in 1977.
Morgan also served on the Board of Financial Markets Foundation for Children, whose purpose was to promote the health and welfare of children in Australia. He has endowed a $45,000 scholarship to his alma mater, the London School of Economics, and sponsors the Joan Sutherland Scholarship program.
A biography – ''David Morgan: An Extraordinary Life'' by Oliver Brown was published in March 2019.
Professional career
Early career (1970-1990)
Morgan's early professional experience was primarily in the government and the financial sectors, having worked both for the
International Monetary Fund
The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster globa ...
in Washington D.C. in the 1970s and the
Australia
Australia, officially the Commonwealth of Australia, is a Sovereign state, sovereign country comprising the mainland of the Australia (continent), Australian continent, the island of Tasmania, and numerous List of islands of Australia, sma ...
n Federal Treasury during the 1980s. Morgan reached the position of Senior Deputy Secretary of Treasury during the Hawke-Keating Federal Government, where he contributed to government economic policy reform, specifically supporting the floating of the Australian dollar as well as financial deregulation more generally.
Westpac (1990-2008)
He joined
Westpac
Westpac Banking Corporation, known simply as Westpac, is an Australian multinational banking and financial services company headquartered at Westpac Place in Sydney, New South Wales.
Established in 1817 as the Bank of New South Wales, it ...
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, Morgan was appointed to the position of group executive, Institutional and International Banking Group. In 1997, he was appointed to the board of Westpac and became executive director. He was appointed CEO in 1999. While David was CEO of Westpac, it was assessed as the global sustainability leader for the banking sector in the Dow Jones Sustainability Index from 2004 to 2007. In December 2006, he announced that he would not be seeking another term as CEO of Westpac, and in 2008 he retired from the position.
From 2008 to 2009 he was on the board of BHP Biliton.
J.C. Flowers & Co.
In December 2009 Morgan was appointed managing director at J.C. Flowers & Co. in charge of Europe and Asia Pacific. He was previously a chairman of J.C. Flowers (Australia) Pty Limited as well as a global operating partner of J.C. Flowers & Co. LLC.
Personal life
Morgan is married to
Ros Kelly
Roslyn Joan Kelly AO (née Raw; born 25 January 1948) is a former member of the Australian House of Representatives, having represented the Division of Canberra from 18 October 1980 to 30 January 1995. She was a minister in the governments ...
, a former Minister in the Australian Federal Governments of
Bob Hawke
Robert James Lee Hawke (9 December 1929 – 16 May 2019) was an Australian politician and union organiser who served as the 23rd prime minister of Australia from 1983 to 1991, holding office as the leader of the Australian Labor Party (A ...
and
Paul Keating
Paul John Keating (born 18 January 1944) is an Australian former politician and unionist who served as the 24th prime minister of Australia from 1991 to 1996, holding office as the leader of the Australian Labor Party (ALP). He previously serv ...
.
Awards and honors
Morgan was made an Officer of the Order of Australia in the Australia Day Honours of 2009 by the Federal Government for his service as a leader in the development of policies for the financial sector. These policies affected the regulation of financial institutions, corporate social responsibility, and economic reform.
In 2008, Morgan chaired The Future Direction for the Australian Economy at the Prime Minister's Australia 2020 Summit.
In 2014 he was selected to join an international advisory panel to provide input to the Australian Government Financial System Inquiry.
See also
*
List of Caulfield Grammar School people
This is a list of notable past students and staff of Caulfield Grammar School and/or Malvern Memorial Grammar School (amalgamated with Caulfield in 1961). Alumni of the school are known as "Caulfield Grammarians" and are supported by the Caulf ...
Notes
{{DEFAULTSORT:Morgan, David
1947 births
Alumni of the London School of Economics
Australian public servants
People educated at Caulfield Grammar School
Living people
Officers of the Order of Australia
People educated at Melbourne High School
Spouses of Australian politicians
Australian chief executives
Australian economists
Businesspeople from Melbourne
Westpac people