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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 [[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."

Generally, Macquarie is in the busienss of gaining control of monolopilies through leveragin their political contacts and then taking advantage of this control and raising prices for end consumers. As an example, after taking control of Sydney airport, all sorts of fees (eg parking) were raised and invented whilst the travelling public has no choice but to pay up. Politicians frequently obtain lucrative positions with Macquarie bank after their public appointments expire.


==Current Board Members==
==Current Board Members==

Revision as of 20:18, 1 May 2007

Macquarie Bank Limited
Company typePublic (ASX: MBL)
IndustryFinance and Insurance
FoundedSydney, Australia (1970)
HeadquartersSydney, Australia
Key people
David Clarke, Chairman
Allan Moss, CEO
ProductsFinancial Services
RevenueAUD 4.393 billion (2006)
AUD 1.287 billion (2006)
Total assetsAUD (12/04)
Number of employees
9,548 (as of 28 July, 2006)
Websitewww.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.

History

The bank was founded 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.

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.

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, which now becomes Macquarie Cook, a gas trading 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 Groups Weath Investments Team managing over 47 Billion AUD of Funds under Management.

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."

Generally, Macquarie is in the busienss of gaining control of monolopilies through leveragin their political contacts and then taking advantage of this control and raising prices for end consumers. As an example, after taking control of Sydney airport, all sorts of fees (eg parking) were raised and invented whilst the travelling public has no choice but to pay up. Politicians frequently obtain lucrative positions with Macquarie bank after their public appointments expire.

Current Board Members

Notable current and former employees

Business

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.

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.

See also

External links


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