David Morgan (businessman)
Melbourne, Victoria, Australia
|Occupation||Former CEO, Westpac Banking Corporation|
Early life, education and personal life
Spending his childhood as a child actor on shows including 'The Magic Boomerang' and 'The Adventures of the Terrible Ten', Morgan was also featured in the film Funny Things Happen Down Under appearing alongside Olivia Newton-John. 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.He studied economics at La Trobe University (1st Class Honours, top of class), before studying at the London School of Economics 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 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 (1969) and All Australian Amateurs (1970) football teams and was picked in the opening Richmond 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).
Morgan's experience prior to joining Westpac was primarily in the government and the financial sectors, having worked both for the International Monetary Fund in Washington D.C. in the 1970s, and the Australian 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. 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. 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 2004–2007. 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.
Morgan is the former Chief Executive Officer of Westpac. After leaving Westpac he took up a non executive directorship at BHP Billiton. He subsequently moved to London to head up the private equity group JC Flowers.
He was made an Officer of the Order of Australia in 2009 for service to the finance sector as a leader in the development of policies affecting the regulation of financial institutions, corporate social responsibility, and economic reform.
- New boss commits to steering Melbourne's future, par. 19
- Australian Banks Top 2007 Dow Jones Sustainability Index. Westpac press release 10 September 2007.
- The Age (2009). Australia Day honours. Retrieved 26 January 2009.