Tuesday, January 23rd 2018

MQG - Macquarie

Known colloquially as ‘Mac Bank’ (though this really refers to what is now just a part of the entity), Macquarie Group Limited (ASX: MQG) is an Australian investment bank and financial services company. Though based in Australia, Macquarie has offices in 28 countries around the world including the United Kingdom, the United States, Brazil, Japan, China and many countries in Europe. It was first listed on the Australia Stock Exchange in 2007.

Macquarie started out in 1970 as a tiny Australian subsidiary of the United Kingdom merchant bank Hill Samuel. Later it became a trading bank, Macquarie Bank Limited, which took over Hill Samuel Australia in 1985. Macquarie Bank Limited was listed on the Australian Stock Exchange in 1996.

Macquarie has five divisions at present. These are: Macquarie Capital; Macquarie Securities Group; Fixed Income, Currencies and Commodities; Macquarie Funds Group, and the Banking and Financial Services Group. Macquarie Group owns Macquarie Bank Limited, which is an authorized deposit taker.

Profits for Macquarie were AUD$871 million in 2009 despite substantial write-downs as a result of the Global Financial Crisis. In the first half of the year to 31 December 2009 Macquarie earned AUD$479 million, which was below predictions and prompted a fall in their share price.

Macquarie has its headquarters in Sydney, Australia.
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