Cross joins Macquarie board

Patricia Cross takes seat on rival board just days after quitting NAB.

Patricia Cross has been appointed to the boards of Macquarie Group Ltd and Macquarie Bank Ltd  as an independent non-executive director effective immediately.

In a statement to the Australian Securities Exchange, Macquarie Group chairman Kevin McCann said Ms Cross' "extensive expertise in international capital markets, financial risk management and treasury as well as her significant experience as a company director of financial and wealth management corporations" would benefit the group.

Ms Cross is currently a director of Qantas Airways Limited, a founding director of the Grattan Institute, a member of the National Board of Directors of the Australian Institute of Company Directors, and an Australian Indigenous Education Foundation ambassador. 

Last week Ms Cross resigned from the National Australia Bank Ltd board to join the board of another unnamed listed company

The bank did not name the company at the time, but said the move had "the potential for a conflict of interest and duty with NAB".

Mrs Cross had served on the NAB board for eight years and was a senior executive at the bank from 1988 to 1996.

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