Macquarie Bank
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<tr><td colspan="2" style="text-align:center; padding:16px 0 16px 0;">Image:LOGO MACQUARIE.jpg</td></tr> | |
| Type | Public ASX: MBL |
|---|---|
| Founded | Image:Flag of Australia.svg Sydney, Australia (1970) |
| Headquarters | Image:Flag of Australia.svg Sydney, Australia
<tr><th style="text-align:right; padding-right:0.75em;">Key people</th><td>Allan Moss, CEO |
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 $8 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.
[edit] History
The bank was founded in January of 1970 as Hill Samuel Australia, a subsidiary of the UK's Hill Samuel, with three staff in Sydney. 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.
Maquarie 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] 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 Macquarie Cook, a gas trading operation based in LA. It employs 3,122 staff outside of Australia.
[edit] Core Business
The bank's activities work within six operating groups: Banking and Property Group, Equity Markets Group, Financial Services Group, Funds Management Group, Investment Banking 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 January 2006 was $15.5 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."
[edit] Board Members
- David S. Clarke, AO, BEc (Hons), Hon DScEcon (Syd), MBA (Harv)
- Mark R.G. Johnson, LLB (Hons) (Melb), MBA (Harv)
- Allan E. Moss, AO, BA LLB (Syd), MBA (Harv)
- John G. Allpass, FCA, FCPA, FAICD
- Laurence G. Cox, AO, BComm (Melb), FCPA, FSIA
- Peter M. Kirby, BEc (Rhodes), BEc (Hons) (Natal), MA (Manch), MBA (Wits)
- Catherine B. Livingtone, BA (Hons) (Macquarie), FCA, FTSE
- Barrie R. Marton, BEc, ANZIIF (Fellow)
- H. Kevin McCann, AM, BA LLB (Hons) (Syd), LLM (Harv), FAICD
- John R. Niland, AC, BCom MCom HonDSc (UNSW), Phd (Illinois), DUniv (SCU), FAICD
- Helen M. Nugent, AO, BA (Hons), Phd (Qld), MBA (Harv)
[edit] Notable current and former employees
[edit] Business
- Simon Hannes - financial analyst, convicted of insider trading
- Allan Moss - Harvard Graduate and successful banker
[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 is represents financial knowledge and ingenuity.
