David Murray (Australian businessman): Difference between revisions
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{{short description|Australian businessman}} |
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{{Use Australian English|date=January 2012}} |
{{Use Australian English|date=January 2012}} |
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{{Use dmy dates|date=July 2020}} |
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{{Infobox person |
{{Infobox person |
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| name = David Murray <small>[[Order of Australia|AO]]</small> |
| name = David Murray <small>[[Order of Australia|AO]]</small> |
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| image = David Murray.jpg |
| image = David Murray.jpg |
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| caption = David Murray in 2008 |
| caption = David Murray in 2008 |
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| birth_name = David Victor Murray |
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| birth_date = 27 April 1949 |
| birth_date = 27 April 1949 |
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| residence = [[Hunters Hill, New South Wales]] |
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| nationality = Australian |
| nationality = Australian |
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| education = [[St Aloysius' College (Sydney)|St Aloysius' College]], [[Sydney]] |
| education = [[St Aloysius' College (Sydney)|St Aloysius' College]], [[Sydney]] |
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[[Macquarie University|Macquarie University]] |
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| ⚫ | '''David Victor Murray''' [[Order of Australia|AO]] (born 27 April 1949), is an [[Australians|Australian]] businessman. He was the inaugural Chairman of the [[Australian Government Future Fund]] Board of Guardians, serving between 2006 and 2012,<ref>{{cite web |url=http://www.futurefund.gov.au/about_the_future_fund/board_member_profiles |title=Board Member Profiles |date=16 December 2011 |work=About us |publisher=Future Fund Board of Guardians |access-date=29 January 2012}}</ref> and Chair of the [[International Forum of Sovereign Wealth Funds]]. |
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| ⚫ | '''David Victor Murray''' [[Order of Australia|AO]] (born |
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==Business career== |
==Business career== |
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Prior to his appointment to the Future Fund, Murray was the Chief Executive Officer of the [[Commonwealth Bank]] between 1992 and 2005. In Murray's 13 years as Chief Executive, the Commonwealth Bank transformed from a partly privatised bank with a market capitalisation of $6 billion in 1992 to a $49 billion integrated financial services company,<ref>{{cite news |url=http://www.smh.com.au/news/business/murray-payout-touches-28m/2005/07/15/1121425722894.html |title=Murray payout touches $28m |author=Murray, Lisa |work=The Sydney Morning Herald |date=16 July 2005 | |
Prior to his appointment to the Future Fund, Murray was the Chief Executive Officer of the [[Commonwealth Bank]] between 1992 and 2005. In Murray's 13 years as Chief Executive, the Commonwealth Bank transformed from a partly privatised bank with a market capitalisation of $6 billion in 1992 to a $49 billion integrated financial services company,<ref>{{cite news |url=http://www.smh.com.au/news/business/murray-payout-touches-28m/2005/07/15/1121425722894.html |title=Murray payout touches $28m |author=Murray, Lisa |work=The Sydney Morning Herald |date=16 July 2005 |access-date=29 January 2012 }}</ref> generating in the process total shareholder returns (including gross dividend reinvestment) at a compound annual growth rate of over 24 per cent, one of the highest total returns of any major bank in Australia.<ref>{{cite news |url=http://www.abc.net.au/sundayprofile/stories/s1399755.htm |work=Sunday Profile |format=transcript |title=David Murray (interview) |date=24 June 2005 |access-date=29 January 2012 |publisher=ABC Radio |location=Australia |author=Attard, Monica}}</ref> |
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Murray holds a Bachelor of Business from the [[NSW Institute of Technology]] and a [[Master of Business Administration]], commenced at [[Macquarie University]] and completed at the [[International Institute for Management Development|International Management Institute]], [[Geneva]]. He holds an honorary [[PhD]] from Macquarie University and is a Fellow of the [[University of Technology, Sydney]]. |
Murray holds a Bachelor of Business from the [[NSW Institute of Technology]] and a [[Master of Business Administration]], commenced at [[Macquarie University]] and completed at the [[International Institute for Management Development|International Management Institute]], [[Geneva]]. He holds an honorary [[PhD]] from Macquarie University and is a Fellow of the [[University of Technology, Sydney]]. He is an [[Old Boys|old boy]] of [[St Aloysius' College (Sydney)|St Aloysius' College]], [[Sydney]]. |
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In 2007 Murray was appointed an [[Order of Australia|Officer of the Order of Australia]] for service to the finance sector nationally and internationally through strategic leadership and policy development, to education, particularly fostering relations between educational institutions and business and industry, and to the community as a supporter of and fundraiser for cultural and church organisations.<ref>{{cite web |url= |
In 2007 Murray was appointed an [[Order of Australia|Officer of the Order of Australia]] for service to the finance sector nationally and internationally through strategic leadership and policy development, to education, particularly fostering relations between educational institutions and business and industry, and to the community as a supporter of and fundraiser for cultural and church organisations.<ref>{{cite web |url=https://honours.pmc.gov.au/honours/awards/1133698 |title=Search: Murray, David Victor |date=26 January 2007 |access-date=29 January 2012 |work=It's an honour |publisher=Commonwealth of Australia }}</ref> |
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==Controversies== |
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In May 2018, Murray was appointed chairman of [[AMP Limited]].<ref>[http://www.abc.net.au/news/2018-05-04/amp-appoints-former-cba-boss-david-murray-as-new-chairman/9728510 AMP appoints former CBA boss David Murray as its new chairman] ''[[ABC News (Australia)|ABC News]]'' 4 May 2018</ref> |
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Murray has made public comments on attempts to [[Climate change mitigation|mitigate climate change]].<ref>{{cite news |url=http://www.crikey.com.au/2011/10/18/hurdles-in-the-coalition-game-of-deterring-renewables-investment/ |title=The Coalition game of deterring renewables investment |author=Keane, Bernard |date=18 October 2011 |access-date=29 January 2012 |work=Crikey }}</ref><ref>{{cite news |url=http://www.theaustralian.com.au/national-affairs/climate/outgoing-future-fund-chairman-david-murray-says-carbon-tax-will-be-veryvery-bad-for-economy/story-e6frg6xf-1226314215514 |title=Outgoing Future Fund chairman David Murray says carbon tax will be 'very,very bad' for economy |author=Packham, Ben |date=30 March 2012 |work=The Australian |access-date=8 April 2012 }}</ref><ref>{{cite news |title=Govt rejects savage spray from Future Fund boss |url=http://www.abc.net.au/worldtoday/content/2012/s3467297.htm |work=The World Today |publisher=ABC News |location=Australia |date=30 March 2012 |format=transcript |access-date=8 April 2012 }}</ref><ref>{{cite news |url=http://www.smh.com.au/opinion/political-news/carbon-tax-worst-economic-reform-says-outgoing-future-fund-chief-20120330-1w21p.html |title=Carbon tax worst economic reform, says outgoing Future Fund chief |date=30 March 2012 |author=Ireland, Judith |work=The Sydney Morning Herald |access-date=8 April 2012}}</ref> Against a backdrop of increasingly severe 2013 bush fires, he slandered an Australian group of scientists who he said lacked any "integrity" after they attributed the disasters to increased carbon emissions. This prompted the Australian Meteorological and Oceanographic Society to publicly declare they were "disturbed" by his statements.<ref>{{Cite web|last=Hannam|first=Peter|date=2013-11-01|title=Climate change: scientists attack David Murray for 'serious slur'|url=https://www.smh.com.au/environment/climate-change/climate-change-scientists-attack-david-murray-for-serious-slur-20131101-2wqcc.html|website=The University of Melbourne|language=en}}</ref> |
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Murray led a push against the [[Australian Stock Exchange]] in 2019 for companies to have a [[corporate social responsibility|social licence]] included in their Corporate Governance Guidelines, labelling the proposal "politically correct nonsense".<ref>{{Cite web|last=Maak|first=Thomas|date=2019-04-03|title=The ASX abandons push to require companies to have a social licence to operate. Was it only ever 'politically correct nonsense'?|url=https://findanexpert.unimelb.edu.au/news/2858-the-asx-abandons-push-to-require-companies-to-have-a-social-licence-to-operate.-was-it-only-ever-%27politically-correct-nonsense%27%3F|access-date=2020-06-09|website=The Sydney Morning Herald|language=en}}</ref> |
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==Climate change views== |
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Murray has made public comments on attempts to mitigate [[Climate change (general concept)|climate change]]<ref>{{Cite web|url=https://www.theaustralian.com.au/national-affairs/climate/outgoing-future-fund-chairman-david-murray-says-carbon-tax-will-be-veryvery-bad-for-economy/news-story/c30c572313a3f15a66ac3f0e804ad5cc|title=Outgoing Future Fund chairman David Murray says carbon tax will be 'very,very bad' for economy|last=Packham|first=Ben|date=March 30, 2012|website=The Australian|url-status=live|archive-url=https://www.theaustralian.com.au/national-affairs/climate/outgoing-future-fund-chairman-david-murray-says-carbon-tax-will-be-veryvery-bad-for-economy/news-story/c30c572313a3f15a66ac3f0e804ad5cc|archive-date=|access-date=}}</ref>. |
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In 2018, Murray was appointed chairman of [[AMP Limited]], resigning in August 2020 as a consequence of calls for his resignation from shareholders and political pressure due to the board's handling of staff allegations of harassment.<ref>[http://www.abc.net.au/news/2018-05-04/amp-appoints-former-cba-boss-david-murray-as-new-chairman/9728510 AMP appoints former CBA boss David Murray as its new chairman] ''[[ABC News (Australia)|ABC News]]'' 4 May 2018</ref><ref>[https://www.afr.com/companies/financial-services/david-murray-s-tone-deaf-amp-board-in-shareholders-sights-20200818-p55mut David Murray's 'tone deaf' AMP board in shareholders sights] ''[[Australian Financial Review]]'' 24 August 2020</ref><ref>{{cite news |url=https://www.smh.com.au/business/banking-and-finance/senator-calls-for-amp-execs-pahari-murray-to-resign-20200818-p55mra.html |title='It's time for a very significant shake-up': Political pressure mounts on AMP leadership |date=24 June 2005 |access-date=24 August 2020 |publisher=Sydney Morning Herald |location=Australia |author=Grieve, Charlotte}}</ref> |
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Murray has expressed views on Australia’s [[carbon tax]] legislation 2012, describing it as the worst piece of economic reform he has seen. Explaining, the legislation would raise costs within Australia and reduce Australia's competitiveness in energy exports<ref>{{Cite web|url=https://www.smh.com.au/politics/federal/carbon-tax-worst-economic-reform-says-outgoing-future-fund-chief-20120330-1w21p.html|title=Carbon tax worst economic reform, says outgoing Future Fund chief|last=Ireland|first=Judith|date=March 30, 2012|website=The Sydney Morning Herald|url-status=live|archive-url=|archive-date=March 30, 2012|access-date=}}</ref>. This has led to comments and criticism of Murray’s views. |
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==Charitable Activity== |
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At the 2019 AMP Annual General Meeting, David Murray spoke to all corporate boards responsibility to ensure risk management teams plan for the economic impacts of global events such as climate change. |
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As of 2019, Murray is chair of The Butterfly Foundation<ref>{{Cite web|title=Support for Australians Experiencing Eating Disorders|url=http://butterfly.org.au/|access-date=2020-06-09|website=Butterfly Foundation|language=en-US}}</ref> a registered charity helping people with eating disorders. |
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==Para-business activity== |
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As of 2019, Murray is chair of [https://healthpages.wiki/wiki/The_Butterfly_Foundation The Butterfly Foundation]<ref>https://thebutterflyfoundation.org.au/about-us/board-and-executive-team/</ref> a charitable organisation aimed at helping people with eating disorders. |
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Murray is also an Ambassador of the Australian Indigenous Education Foundation. |
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==References== |
==References== |
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{{reflist}} |
{{reflist}} |
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Latest revision as of 04:21, 28 August 2024
David Murray AO | |
|---|---|
 David Murray in 2008 | |
| Born | 27 April 1949 |
| Nationality | Australian |
| Education | St Aloysius' College, Sydney |
David Victor Murray AO (born 27 April 1949), is an Australian businessman. He was the inaugural Chairman of the Australian Government Future Fund Board of Guardians, serving between 2006 and 2012,[1] and Chair of the International Forum of Sovereign Wealth Funds.
Business career
[edit]Prior to his appointment to the Future Fund, Murray was the Chief Executive Officer of the Commonwealth Bank between 1992 and 2005. In Murray's 13 years as Chief Executive, the Commonwealth Bank transformed from a partly privatised bank with a market capitalisation of $6 billion in 1992 to a $49 billion integrated financial services company,[2] generating in the process total shareholder returns (including gross dividend reinvestment) at a compound annual growth rate of over 24 per cent, one of the highest total returns of any major bank in Australia.[3]
Murray holds a Bachelor of Business from the NSW Institute of Technology and a Master of Business Administration, commenced at Macquarie University and completed at the International Management Institute, Geneva. He holds an honorary PhD from Macquarie University and is a Fellow of the University of Technology, Sydney. He is an old boy of St Aloysius' College, Sydney.
In 2007 Murray was appointed an Officer of the Order of Australia for service to the finance sector nationally and internationally through strategic leadership and policy development, to education, particularly fostering relations between educational institutions and business and industry, and to the community as a supporter of and fundraiser for cultural and church organisations.[4]
Controversies
[edit]Murray has made public comments on attempts to mitigate climate change.[5][6][7][8] Against a backdrop of increasingly severe 2013 bush fires, he slandered an Australian group of scientists who he said lacked any "integrity" after they attributed the disasters to increased carbon emissions. This prompted the Australian Meteorological and Oceanographic Society to publicly declare they were "disturbed" by his statements.[9]
Murray led a push against the Australian Stock Exchange in 2019 for companies to have a social licence included in their Corporate Governance Guidelines, labelling the proposal "politically correct nonsense".[10]
In 2018, Murray was appointed chairman of AMP Limited, resigning in August 2020 as a consequence of calls for his resignation from shareholders and political pressure due to the board's handling of staff allegations of harassment.[11][12][13]
Charitable Activity
[edit]As of 2019, Murray is chair of The Butterfly Foundation[14] a registered charity helping people with eating disorders.
References
[edit]- ^ "Board Member Profiles". About us. Future Fund Board of Guardians. 16 December 2011. Retrieved 29 January 2012.
- ^ Murray, Lisa (16 July 2005). "Murray payout touches $28m". The Sydney Morning Herald. Retrieved 29 January 2012.
- ^ Attard, Monica (24 June 2005). "David Murray (interview)" (transcript). Sunday Profile. Australia: ABC Radio. Retrieved 29 January 2012.
- ^ "Search: Murray, David Victor". It's an honour. Commonwealth of Australia. 26 January 2007. Retrieved 29 January 2012.
- ^ Keane, Bernard (18 October 2011). "The Coalition game of deterring renewables investment". Crikey. Retrieved 29 January 2012.
- ^ Packham, Ben (30 March 2012). "Outgoing Future Fund chairman David Murray says carbon tax will be 'very,very bad' for economy". The Australian. Retrieved 8 April 2012.
- ^ "Govt rejects savage spray from Future Fund boss" (transcript). The World Today. Australia: ABC News. 30 March 2012. Retrieved 8 April 2012.
- ^ Ireland, Judith (30 March 2012). "Carbon tax worst economic reform, says outgoing Future Fund chief". The Sydney Morning Herald. Retrieved 8 April 2012.
- ^ Hannam, Peter (1 November 2013). "Climate change: scientists attack David Murray for 'serious slur'". The University of Melbourne.
- ^ Maak, Thomas (3 April 2019). "The ASX abandons push to require companies to have a social licence to operate. Was it only ever 'politically correct nonsense'?". The Sydney Morning Herald. Retrieved 9 June 2020.
- ^ AMP appoints former CBA boss David Murray as its new chairman ABC News 4 May 2018
- ^ David Murray's 'tone deaf' AMP board in shareholders sights Australian Financial Review 24 August 2020
- ^ Grieve, Charlotte (24 June 2005). "'It's time for a very significant shake-up': Political pressure mounts on AMP leadership". Australia: Sydney Morning Herald. Retrieved 24 August 2020.
- ^ "Support for Australians Experiencing Eating Disorders". Butterfly Foundation. Retrieved 9 June 2020.