Paul Lewis retires from Magellan board

A long-standing non-executive director on the Magellan board announced his retirement on Friday.

Lewis joined the Magellan Financial Services board in late 2006. He chaired the investment manager's remunerations and nominations committee since 2015 and was a member of the audit and risk committee.

"This is the end of a chapter and I look back with extreme fondness and a touch of sadness on Paul's retirement from the board of Magellan," said the chief investment officer Hamish Douglass in an ASX release.

"Paul's counsel, insight, support, and importantly, his friendship over the past 15 years has been invaluable. "Magellan is certainly richer in many ways from Paul's invaluable contribution."

Lewis is the chair of NAB Private Wealth, IPScape, and Growth Mantra, the boutique consultant. He is deputy national chair of the Australian British Chamber of Commerce and a non-executive director at Volt Corporation and Grassrootz.

He is also a member of NAB's Business Advisory Council and a fellow of the Australian Institute of Company Directors.