Notes and observations from Macquarie’s three hour investor call
The $80 billion financial services titan has detailed its insights into global markets, domestic banking and promotional gimmicks.
Across a three hour call with investors following a scheduled market update, Macquarie Group covered the length and breadth of the market as the global financial titan weighed in on what it was seeing across its four-headed business.
This is what piqued our interest.
Macquarie is coming home stronger
As the market punished it for a disappointing half year result in November, chief executive and managing director Shemara Wikramanayake tried to soothe investors by promising a stronger second half.
That appears to be playing out with the commodities and global markets (CGM) business, which disappointed last year, making a “substantially” improved profit contribution, while Macquarie Asset Management, banking and financial services (BFS) and Macquarie Capital all trending up.
More deals are likely to be finalised by 31 March as well. “There’s more expected. We’re working hard on that. And the teams right now are deeply focused on those transactions across the world… in the final stages of negotiation,” Macquarie Capital group head Michael Silverton said.
