David Clarke

1942 - 2011

David Clarke obituary, 1942-2011

BORN

1942

DIED

2011

David Clarke Obituary

Published by Legacy Remembers on Apr. 16, 2011.

A PIONEER of modern finance in Australia and one of its most influential business figures, David Clarke stood at the head of Macquarie Bank until only weeks before his death at age 69.

Born in Sydney on January 3, 1942, Mr Clarke grew up on the city's north shore, attended Knox Grammar school and later studied economics at Sydney University.

During his time at university, Mr Clarke played rugby and cricket and was a member of the Australian Universities rugby union team.

He also used this time to cut his teeth at a stockbroking firm, now known as Ord Minnett, before travelling to the US to gain a postgraduate business degree at Harvard University.

He was one of the first Australians to receive a degree from Harvard.

It was while working at Hill Samuel Australia in 1971 that Mr Clarke and fellow managing director Mark Johnson built the foundations of Macquarie Bank.

What was then a modest business in a single room with just 12 staff has now grown into a multinational financial institution, with 15,500 staff operating from 70 offices in 28 countries.

Mr Clarke was appointed joint managing director of Macquarie Group's original predecessor, Hill Samuel Australia, in 1971.

In 1977 he was appointed managing director and in 1984 executive chairman.

He was executive chairman of Macquarie Bank from its formation in 1985.

Mr Clarke's involvement in Australia's business industry was vast. He served as chairman of Australian Vintage Ltd for 18 years; of Goodman Group Ltd for nine years; was appointed by the federal government in 1991 to dispose of the Australian wool stockpile; and served on a number of business advisory councils, including the Australian Institute of Company Directors' corporate governance committee.

But Mr Clarke was also known for his broad interests and involvement in society well beyond the financial industry.

His service to society took in a range of office-bearing roles, from briefly serving as honorary federal treasurer of the Liberal Party to his chairmanship of the NSW Rugby Union and a stint as president of the Winemakers' Federation of Australia.

His own winery, Poole's Rock in the Hunter Valley, won regular awards.

Mr Clarke's roles in public life ranged from the arts - he chaired Opera Australia from 1988-97 - through to charity, where he helped pioneer corporate philanthropy.

He led the establishment of the Hill Samuel Charitable Fund in 1978 and was part of a leadership group that founded the Macquarie Group Foundation in 1985.

Mr Clarke also served on the boards and councils of groups as varied as The Royal Agricultural Society of NSW, the International Rugby Board, Social Ventures Australia and the Australian Olympic Foundation. He chaired the Salvation Army from 1985 until this year and the Children's Cancer Institute from 1991-2009.

In 1992 he was made an Officer of the Order of Australia for service to business and the community and in 2001 he received the Centenary Medal for service to Australian society.

In 2006, he was awarded the Richard Pratt Business Leadership Award by the Australia Business Arts Foundation.

Mr Clarke resigned as chairman of Macquarie Group Ltd and Macquarie Bank Ltd on March 17 this year.

He passed away at his Sydney home surrounded by family after losing a battle with cancer.

He is survived by his wife, Jane, sons Angus and Tim from his first marriage, step-daughter Maxine, and five grandchildren.

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