China Banking Regulatory Commission
After retiring from the RBA Macfarlane was appointed as a director of three public companies - Woolworths Limited (2007-2015), Leighton Holdings (2007-2013) and ANZ Bank (2007-2016). He was also on the International Advisory Boards of Goldman Sachs (2007-2016) and the China Banking Regulatory Commission (2011-2014). He continued to be a director of the Lowy Institute for International Policy (2004-2017).