Allan Moss's five year RBA term concludes at December 2020 meeting

Allan Moss's five year RBA term concludes at December 2020 meeting
Jonathan ChancellorDecember 7, 2020

The veteran investment banker Allan Moss could be attending his last meeting at the December RBA meeting.

His five year term officially concludes at today's December central bank meeting, with no announcement yet from Treasurer Josh Frydenberg on an extension or replacement.

The banking veteran is 71, and able to offer the board insights from his career which began after a university careers talk by Mark Johnson, a pioneer merchant banker at Hill Samuel Associates.

It was after he secured his Harvard MBA, that Moss joined the UK-owned merchant bank Hill Samuel Associates in Sydney in 1977.

In 1985, Hill Samuel became part of the newly formed Macquarie Bank, and a year later, Macquarie was listed on the Australian Stock Exchange with a market capitalisation of $1.3bn.

He was chief of Macquarie Bank, Australia's biggest investment bank for almost 15 years before stepping down in 2008.

At the time of his appointment to the RBA, Moss was a principal of private investment company Allan Moss Investments and an adviser to the investment firms Evans and Partners and Anchorage Capital Partners.

Current bank executives or economists are not permitted on the board, but former bankers can be appointed.

He was appointed to the RBA board by then treasurer Scott Morrison, replacing Roger Corbett, whose second term ended aged 73.

The central bank's policy setting board meets 11 times a year.

It includes six independent directors appointed by the government with the next replacement opportunity with Catherine Tanna (March 2021) and then Ian Harper (July 2021).

Age has not been a disqualified as Frank Lowy stepped down at 75 years, with his final two year term begging when he was around 72 years in 2003.

Sir Peter Ables stepped down at 70 years in 1994.

The Melbourne business leader Geoffrey Grimwade is the only board member to have died in office, aged 58 in 1961 while in Sydney on a business trip, found dead of a coronary occlusion in his room in the Australia Hotel.

His death, at the height of his influence, was noted by the Australian Dictionary of Biography as a significant loss to business, and in particular to D.H.A. (the pharmaceutical company Drug Houses of Australia) which became the first major Australian victim of overseas asset-strippers a few years later.

Moss is seemingly also on the move on the homefront.

Moss and his lawyer wife Irene look set to be off to Cremorne where they have reportedly bought the two home compound of Hunter Valley vintners Huang Shu Hua and Li Shingling.

The Federation mansion and adjoining housse has been on and off the market for some times seeking $17 million to $18 million.

Moss’s new home last traded in 2016 for $14.2 million when sold for a then suburb record by Hong Kong-based expat bank executive Karma Wilson and Nigel Tupper to Huang and Li, a former shareholder of Chinese Media Group with billionaire tycoon Huang Bingwen.

Moss has owned in the Renzo Piano-designed Macquarie Apartments since 2010.


Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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