The Australian bank is to get a new chairman.

A long-standing figure of the Australian financial industry has been named as chairman of Sydney-listed Macquarie, the lender announced.

Macquarie said that Kevin McCann will retire as chairman and a voting director of both companies effective 31 March 2016; he will be succeeded by independent director Peter Warne. He was appointed an independent voting director in the summer of 2007.

McCann said Warne has extensive knowledge of, and deep experience in, financial services and investment banking through a number of roles at Bankers Trust Australia, including as head of its financial markets group from 1988 to 1999. Warne was also a director of the Sydney Futures Exchange and served as deputy chairman of the SFE from 1995 to 1999. He became a director of the Australian Securities Exchange when the SFE merged with ASX in July 2006.

He holds a number of other roles: Warne is chairman of ALE Property Group and OzForex Group, a director of NSW Treasury Corporation, a member of the advisory board of the Australian Office of Financial Management and a patron of Macquarie University Foundation.

As for McCann, he is one of Australia’s pre-eminent company chairmen. He was previously chairman of Origin Energy, Healthscope and ING Management and a director of BlueScope Steel. McCann was partner of leading Australian law firm Allens Arthur Robinson for 34 years and also served as chairman.