Macquarie rep quits Liberty board

Laurie Cox, a nominee of Macquarie Bank, quit the board of Liberty Financial, the Financial Review reported.

The newspaper quoted a letter of resignation written by Cox that states "there are a number of matters of dispute between Macquarie and Minerva and other shareholders".

Minerva is the vehicle through which Liberty's managing director, Sherman Ma, and two other shareholders, own Liberty.

THe newspaper speculates that the reason for the resignation of Cox is Macquarie's "demand for a restructure" these ownership arrangements.