Macquarie Bank

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Macquarie Bank Limited
Image:Macquarie Bank Logo.png
Type	Public (ASX: MQG)
Founded	Sydney, Australia (1970)
Headquarters	Sydney, Australia
Key people	David Clarke, Chairman Allan Moss, CEO
Industry	Finance and Insurance
Products	Financial Services
Revenue	AUD 7.2 billion (2007)
Net income	AUD 1.46 billion (2007)
Total assets	AUD 200 billion (2007)
Employees	11000 (2007)
Slogan	Forward thinking
Website	www.macquarie.com.au

Macquarie Bank Limited is an Australian merchant bank and financial services group, providing a broad range of products and services to investors, corporations and government. Its global headquarters is in Sydney, and it is listed on the Australian Stock Exchange (ASX). It is the only large, majority Australian-owned investment bank.

During 2005, it raised more than $80 billion AUD in equity capital markets, capital raisings and floats, making it the largest player in Australia in capital raisings. It is the second largest player in the mergers and acquisitions area of corporate finance in Australia.

1 History
2 International Market Presence
3 Core Business
4 Current Board Members
5 Notable current and former employees
- 5.1 Business
- 5.2 Public service
6 Logo
7 See also
8 External links

[edit] History

The bank was founded in 1969 and it began its operation from Sydney in January of 1970 as Hill Samuel Australia, a subsidiary of the UK's Hill Samuel, an entity founded by the same man as the Shell Corporation. The bank took its name from Lachlan Macquarie, an early Governor of New South Wales who dramatically transformed the early colonial economy. The company became a trading bank and changed to its present name in 1986, at which time it opened branches in Melbourne and Brisbane. The company listed on the ASX in 1996, with an initial market capitalization of 1.3 billion AUD.

Macquarie Bank manages a number of listed investment funds. Over the past decade, the Macquarie Infrastructure Group, has become the world's largest operator of private toll roads both nationally and internationally. Other funds managed by the bank's subsidiaries have invested in projects such as airports, operating Kingsford Smith International Airport in Sydney and Bristol International Airport in the UK, for instance.

[edit] International Market Presence

Macquarie's operations are still primarily Australian although it has built a substantial presence offshore with operations in the United Arab Emirates, India, South Africa, Brazil, Canada, the United States, China, Hong Kong, Japan, Korea, Singapore, Indonesia, Malaysia, the Philippines, Taiwan, Thailand, New Zealand, Austria, Germany, France, Italy, Switzerland, Ireland and the United Kingdom. Notable recent acquisitions include Cook Inlet, now Macquarie Cook Energy, a gas trading and scheduling operation based in Los Angeles and Thames Water, one of the world's largest water companies. Macquarie employs 3,122 staff outside of Australia.

Macquarie Bank has developed a large presence in the Financial Services arena with their Financial Services Group's Wealth Investments Team managing over 479.8 Billion AUD of Funds Under Management.

[edit] Core Business

The bank's activities work within seven operating groups: Banking and Securitisation Group, Equity Markets Group, Financial Services Group, Funds Management Group, Investment Banking Group, Real Estate Group and the Treasury and Commodities Group.

Macquarie's managing director is Allan Moss, and the board chairman is David Clarke.

The bank's high margins and profits, and the consequent rewards for its executives and shareholders, have seen news website Crikey dub the bank "The Millionaire Factory". Macquarie's capitalisation as at June 2007 was $23.5 billion AUD making it one of Australia's biggest companies by value.

In 2005 Macquarie announced a hostile takeover bid for the London Stock Exchange valuing the company at £1.5 billion, a bid rejected by LSE management as "derisory".

In 2007 the bank attempted to takeover Qantas in Australia along with a consortia of other private equity players. This eventually played out unsuccessfully and led many to see the bank as overly aggressive in trying to achieve ultimate profits.

In November 2007, the bank restructured as a wholly owned subsidiary of Macquarie Group Limited.

[edit] Current Board Members

David S. Clarke, AO, Executive Chairman
Mark R.G. Johnson, Deputy Chairman and Chairman of Australian Gas Light Company
Allan Moss, AO, CEO
John Allpass, Former Managing Partner of KPMG's Queensland practice
Laurence Cox, AO, Former Chairman of the Australian Stock Exchange
Peter Kirby, Former Managing Director of CSR Limited
Catherine Livingtone, Former Managing Director of Cochlear Limited
Kevin McCann, Former Partner and Chairman of Allens Arthur Robinson
John Niland, AC, Former President of the University of New South Wales, and former Cornell University professor
Helen Nugent, AO, Chairman of Funds SA, Swiss Re Life, and Health (Australia) Limited

[edit] Notable current and former employees

[edit] Business

Simon Hannes - financial analyst, convicted of insider trading
Allan Moss - CEO

[edit] Public service

An unusual feature of Macquarie Bank, as a financial institution, is the very strong political connections that it maintains through the appointment of former politicians and senior political staffers to senior and highly paid positions.

Bob Carr - Premier of New South Wales (1995-2005)
Ross Cameron - Member of the Australian House of Representatives (1996-2004)
John Hewson - Member of the Australian House of Representatives (1987-95)
Max Moore-Wilton - former Secretary of the Department of the Prime Minister and Cabinet to John Howard
Irene Moss - Commissioner of the New South Wales Independent Commission Against Corruption until November 2004; wife of Macquarie Bank CEO Allan Moss.
Graeme Samuel - chairman of the Australian Competition and Consumer Commission (2003-present)
Warwick Smith - former Federal Cabinet Minister
Alan Stockdale - former Treasurer of Victoria

[edit] Logo

Macquarie Bank's logo is a representation of the Holey dollar developed by Governor Macquarie as a solution to the monetary problems of the early Australian settlers. For the company, it represents financial knowledge and ingenuity.

[edit] See also

[edit] External links

v • d • e Macquarie Bank
Infrastructure/Diversified:	Macquarie Airports • Macquarie Communications Infrastructure Group • Macquarie Infrastructure Group • Macquarie Infrastructure Company • Macquarie Media Group • Macquarie Regional RadioWorks
Property:	Macquarie Countrywide Trust • Macquarie DDR Trust • Macquarie Direct Property • Macquarie Goodman Group • Macquarie Leisure Trust • Macquarie Office Trust • Macquarie Pacific Star • Macquarie Prologis Trust
Corporate Directors:	David Clarke (Chairman) • Mark R.G. Johnson • Allan Moss (CEO) • John Allpass • Laurence Cox • Peter Kirby • Catherine Livingtone • Barrie Marton • Kevin McCann • John Niland • Helen Nugent
Annual Revenue: $4.393 billion AUD (Image:Green Arrow Up Darker.svg 17% FY 2006) · Employees: 10,000 · Stock Symbol: ASX: MBL · Website: www.macquarie.com.au