About Macquarie Bank
Macquarie Bank is a pre-eminent provider of financial services offering a full range of investment banking, commercial banking and retail financial services in Australia and in selected markets around the world. Since its establishment in 1969, the Bank has been associated with a stream of major financial innovations, achieving significant benefits for clients and underpinning Macquarie's reputation as a market leader.
Macquarie has reported successive years of record profits and growth since 1992, and the Bank now employs over 4,000 people in Australia and in 22 international locations. Macquarie listed on the Australian Stock Exchange in 1996, and its growing number of shareholders have benefited from a return on equity consistently exceeding 20 per cent. Macquarie now ranks as one of Australia's top 30 companies by market capitalisation.
What makes Macquarie different?
Macquarie Bank is the only independent Australian full service investment bank and one of only a relatively small number of substantial independent investment banks remaining globally. We believe that independence provides us with important advantages as we capitalise on the opportunities available in both domestic and international markets. Two of the primary advantages provided by independence are the flexibility to enter new markets as opportunities arise and the freedom to respond to the special requirements of individual markets in the region and around the world.
Key to Macquarie's success is a unique management style that aims to provide individual businesses with a balance between operating freedom, and controls on risk limits and observance of professional standards. This philosophy encourages a sense of ownership and entrepreneurial endeavour by business managers, and has produced a consistent record of innovation throughout the Bank's history.
RATINGS Short Term Long Term
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Standard & Poor's A1 A
FitchIBCA F1 A+
Moody's Investors Services P1 A2
Thomson Bankwatch TBW1 AA-
Japan Rating and Investment a-1 A+
Information
International activities
The Macquarie Group operates in 22 locations around the world, with income from international activities contributing a significant proportion to the Bank's revenue. In the year to March 2000, international income contributed 21% to the Bank's income. Macquarie's international growth strategy is to expand selectively, seeking only to enter markets where we perceive there is a genuine opportunity to add real value. Macquarie's international presence reflects this philosophy, with individual Divisions operating in discrete markets in 15 countries.
In many cases our strategy on entering new countries is to establish an alliance with a leading local provider. This approach enables us to combine our technical expertise and specialist skills with the market presence and infrastructure of a leading local player.
Macquarie's operations
Macquarie has seven operating Groups within which individual business Divisions operate, specialising in defined product or market sectors. These businesses work in close cooperation when appropriate and great emphasis is placed on the client's relationship with the Bank as a whole.
Treasury and Commodities Group
The Treasury and Commodities Group participates in a broad range of financial markets trading activities with operations in countries including Australia, Hong Kong, Korea, Japan, the United Kingdom, the United States and Brazil.
The Group comprises eight Divisions. The Metals and Mining Division provides a 24-hour price making facility for base and precious metals (including aluminium, copper, zinc, gold and platinum) along with financing and structured hedging facilities for metals projects. Macquarie is one of the principal providers of liquidity in the Asian timezone and ranks in the top five largest participants in the London Metal Exchange (LME) market globally. The Division also offers clients around the world highly regarded independent metals research services.
The Foreign Exchange Division provides 24-hour interbank price-making services on Australian dollar spot, forwards and options and provides interbank pricing in Yen and Euro during the Sydney timezone. Macquarie now holds the number one position for interbank Australian Dollar turnover in the London and New York timezones.
The Debt Markets Division covers debt origination, trading, sales, research, asset structuring and derivative-based risk management solutions for governments, corporationd and institutions. It holds a market leading position in the asset-backed securitisation industry, in mortgage, equipment and motor vehicle securities as well as the more tailored structured variety.
The Agricultural Commodities Division provides risk management solutions to the agricultural industry globally. Its core business is in the provision of tailored, over-the-counter hedging transactions. In addition, it provides and agricultural futures service through Macquarie Futures Inc. in Chicago. The Division operates out of six locations globally and is widely recognised as the world leader in the provision of over-the-counter agricultural products. Commodities covered include wheat, sugar, cotton and soy. The Division also include Macquarie's successful wool risk management business, which operates Macquarie Wool Futures.
The Capital Management Division undertakes principal trading activities. The Futures Division has maintained a presence as one of Australia's leading floor and clearing members of the Sydney Futures Exchange since 1979, and has an established client base comprising many of Australia's leading fund managers, government and public enterprises and overseas banks. Money Market is responsible for the balance sheet, liquidity and interest rate management of the Bank, and has established a reputation as a proven performer in these areas over the long term. Risk Advisory Services offers a range of strategic financial advisory and risk management services across a broad spectrum of markets and issues.
Asset and Infrastructure Group
The Asset and Infrastructure Group comprises four Divisions. The Project and Structured Finance Division is at the forefront of the infrastructure, structured finance and cross-border leasing markets both in Australia and internationally. In the year to March 2000, Macquarie completed transactions with a total value of over $20 billion. The Division was ranked No.1 in the Asia Pacific and No.2 globally for advisory mandates won, by industry publication Project Finance International.
The Infrastructure and Specialised Funds Division manages a range of investments in infrastructure assets, totalling over $7 billion at 31 March 2000. Entities managed by the Division include the Macquarie Infrastructure Group, a top 100 publicly listed entity with a market capitalisation of approximately $1.1 billion.
Macquarie Technology Investment Banking partners with entrepreneurs to build and grow high technology businesses through a broad range of venture services including advice on growth and financial strategies, execution of private equity raising, strategic alliances and mergers and acquisitions. Where relevant, the Division draws on the specialist mergers and acquisitions and public company capital raising expertise of Macquarie's Corporate Finance Group in order to provide a total solution to client requirements. The Division also provides venture capital through its venture capital arm, Macquarie Technology Funds Management.
Macquarie Capital provides financial services to the corporate, professional, government and small business sectors. The Division's products include motor vehicle and IT equipment leasing, commercial leasing and hire purchase and technology sector financing.
Corporate Finance Group
Macquarie's Corporate Finance Group boasts the largest corporate finance team in the Australasian region. The Group also has a significant presence in Asia and North America. The Corporate Advisory Division provides strategic advice to corporate and public sector clients on mergers and acquisitions, divestments, privatisations, corporate restructuring and other strategic and financial services. Macquarie is one of Australia's leading mergers and acquisitions advisers and in the year to 31 March 2000 it advised more than 110 clients on 135 mandates worldwide and completed transactions worth over $14 billion.
The Equity Capital Markets Division advises on, manages and underwrites the full range of equity capital market products including initial public offers (IPOs), rights issues, sell-downs, placements, buy-backs and issuance of hybrid securities. The Division also provides advice on capital management and communication with institutional investors. Macquarie completed 39 transactions for the year and raised over $4 billion for its clients.
Equities Group
The Equities Group comprises two Divisions. Macquarie Equities Limited provides a full range of institutional and corporate stockbroking services to local and offshore investors. The Division combines dedicated domestic and international sales teams with a highly ranked research team. Macquarie is now one of Australia's largest equity broking houses. Internationally, Macquarie Equities holds a leading share of every institutional market for Australian stocks around the world with approximately half the Division's revenue generated in international markets. The highly regarded research team provides a full range of research services covering over 200 listed stocks, as well as commodities, strategy, economics and quantitative analysis, to 1,500 institutions around the world.
Equity Markets undertakes the Bank's market-making in equities and equity derivatives, originates equity-based financial products for retail and wholesale clients and runs the Bank's product origination, structuring and stock banking securities borrowing and lending operations. It provides products, services and solutions for intermediaries and corporate, institutional and retail clients out of offices in Australia, Hong Kong and South Africa. It currently has active operations in Australia, Europe, Hong Kong, Japan and South Africa, in the latter two markets through alliances with IBJ Securities Co Ltd (IBJS) and The Standard Bank of South Africa respectively.
Investment Services Group
The Investment Services Group manages over $21 billion of investments through a range of funds and trusts. The Group provides both active and passive (enhanced index) investment management styles across a range of asset classes including cash, domestic and international fixed interest, currency, Australian equities and listed property trusts.
The Investment Services Group is made up of two Divisions. The focus of the Domestic Division is the provision and sale of funds management activities for the Bank's institutional clients. The Division is also the major supplier of funds management services to the Financial Services Group, which distributes products to the retail market in Australia. Through the International Division, the Group pursues opportunities to export its product innovation and asset management expertise to other markets. The International Division currently has joint ventures in place in Malaysia, South Africa and Korea.
Banking and Property Group
The Banking and Property Group consists of eight Divisions, providing a range of property and banking-related investment and advisory services.
The Property Investment Management Division manages four listed, sector specific property trusts and five unlisted property syndicates, with a total of $2.0 billion in assets under management. Three of the listed trusts ranked in the top 10 listed property trusts by BDO Nelson Parkhill for the third consecutive year, and continued to outperform the market.
The Property Finance Division makes loans secured by mortgages over investment property and is a specialist financier to the property development industry, offering risk participation loans and co-sponsoring and managing property development syndicates. The Property Investment Banking Division is Australia's leading full-service property and development advisory group. Medallist Golf Developments, a joint venture with Greg Norman's Great White Shark Enterprises, develops golf-related real estate around the world.
Macquarie Securitisation is Australia's pre-eminent arranger and issuer of mortgage-backed securities and was rated No.2 Asia Pacific Issuer of the Year in 1999 by the International Securitisation Report. The Mortgage Division provides wholesale origination and also offers mortgages directly to retail clients. The Margin Lending Division offers geared investment products directly to retail clients and via independent financial advisers. Professional and Business Banking provides business banking services to professionals and individuals at the premium end of the market, focussing on niche groups, including the real estate, veterinary and medical industries.
Financial Services Group
The Financial Services Group was formed in June 2000 and is dedicated to the distribution of retail financial services via financial advisers and directly to individuals.
Macquarie has an established record of success in the premium end of the retail market, which is the Group's focus, currently servicing over 400,000 customers both directly and through advisers. In stockbroking, Macquarie is one of the top three retail brokers in Australia. Macquarie has over $10 billion of retail funds under management including $6.3 billion in Australia's leading cash management trust. A variety of other products and services from across the Bank cater for retail clients including equity warrants, listed property and infrastructure trusts, private banking, margin lending and mortgages. Macquarie has relationships with over 6,000 third party financial advisers throughout Australia and has consistently won awards for service levels to financial advisers.
Quotes:
"Macquarie Bank ...continues to justify its reputation as the most dynamic and innovative Australian investment bank"
Euromoney
"Macquarie Bank, widely regarded as the most innovative merchant bank in Australia, has continually lead the market with a stream of innovative financial products"
BRW June 1998
As the only independent, majority domestic-owned investment bank, Macquarie Bank has continued its strong performance despite stepped up competition"
Asiamoney April 1998
"Macquarie Bank is a rare type of investment bank. It has made returns on equity of over 20% for 10 years by constantly moving into new business areas."
Euromoney April 1999
"Australia's strongest locally-owned bank, Macquarie has continued to achieve a combination of.market leadership and profit performance."
Euromoney July 1996
"In a class of its own...a unique investment bank with an outstanding profit and growth record...and market leadership"
Salomon Smith Barney
"...investment banking strength, domestic dominance and global capacity."
Credit Suisse First Boston
"Macquarie's record...makes it a standout performer in investment banking"
BRW Dec 1996
Macquarie and the Holey Dollar
In 1813 Lachlan Macquarie, Governor of the colony of New South Wales, overcame an acute currency shortage by purchasing Spanish Silver dollars (then worth five shillings), punching out the centres and creating two new coins - the 'Holey Dollar' (valued at five shillings) and the 'Dump' (valued at one shilling and three pence). This single move not only doubled the number of coins in circulation but increased their total worth by 25 per cent and prevented the coins from leaving the colony.
Governor Macquarie's creation of the Holey Dollar was an inspired solution to a difficult problem and for this reason it was chosen as the symbol of the Macquarie Bank Group.
What we Stand For
Macquarie Bank aspires to be a pre-eminent provider of financial services over the long haul. We recognise that, however our achievements to date are judged, the quest for improvement is never ending.
The Macquarie culture is represented by the way in which we act and work together. The values to which we aspire can be summarised in six principles:
Contact Directory
Directory of offices from which Macquarie Bank and/or its subsidiaries conduct operations.
AUSTRALIA
Sydney
Tel: (02) 8232 3333
Fax: (02) 8232 7780
Telex: 122246
Melbourne
Tel: (03) 9635 8000
Fax: (03) 9635 8080
Telex: 32736
Brisbane
Tel: (07) 3233 5333
Fax: (07) 3233 5399
Telex: 40638
Macquarie Nevitts
Brisbane
Tel: (07) 3233 5888
Fax: (07) 3233 5999
Brisbane - National Seniors
Tel: (07) 3221 2140
Fax: (07) 3229 0356
Buderim
Tel: (07) 5445 2822
Fax: (07) 5445 2248
Burleigh Heads
Tel: (07) 5576 1044
Fax: (07) 5576 2175
Cairns
Tel: (07) 4051 2922
Fax: (07) 4051 3698
Noosa
Tel: (07) 5474 1608
Fax: (07) 5474 2359
Southport
Tel: (07) 5532 8955
Fax: (07) 5532 8731
Toowoomba
Tel: (07) 4639 2588
Fax: (07) 4639 3905
Townsville
Tel: (07) 4771 6089
Fax: (07) 4771 6244
Perth
Tel: (08) 9224 0666
Fax: (08) 9224 0633
Adelaide
Tel: (08) 8231 6113
Fax: (08) 8231 6107
Macquarie Day Cutten
Adelaide
Tel: (08) 8203 0200
Fax: (08) 8212 4829
Mount Gambier
Tel: (08) 8724 9544
Fax: (08) 8724 9252
Canberra
Tel: (02) 6243 5139
Fax: (02) 6243 5143
OVERSEAS
Auckland
Tel: (09) 377 6433
Fax: (09) 377 6483
Beijing
Tel: (10) 6599 2561
Fax: (10) 6599 2562
Cape Town
Tel: (21) 680 5325
Fax: (21) 680 5011
Chicago
Tel: (312) 521 6888
Fax: (312) 521 6877
Florida
Tel: (561) 743 9062
Fax: (561) 743 2406
Hong Kong
Tel: 2823 3700
Fax: 2823 3790
Jakarta
Tel: (21) 515 4585
Fax: (21) 515 4579
Kuala Lumpur
Tel: (3) 381 3081
Fax: (3) 381 3082
London
Tel: (20) 7776 7060 (General)
Tel: (20) 7776 7070 (Equities)
Tel: (20) 7776 7000 (Project and Structured Finance)
Fax: (20) 7776 7061
Telex: 916 962
Munich
Tel: (89) 290 530
Fax: (89) 290 5320
New York
Tel: (212) 548 6500
Fax: (212) 399 8928
San Francisco
Tel: (415) 645 8090
Fax: (415) 989 2145
Sao Paolo
Tel: (11) 282 5087
Fax: (11) 282 3807
Seoul
Tel: (2) 3782 2202
Fax: (2) 3782 2299
Shanghai
Tel: (21) 6249 2212
Fax: (21) 6249 2810
Singapore
Tel: 536 3875
Fax: 536 3926
Tianjin
Tel: (22) 2313 4528
Fax: (22) 2313 4529
Tokyo
Tel: (3) 5220 2727
Fax: (3) 5220 2726
Toronto
Tel: (416) 594 0200
Fax: (416) 594 0020
Vancouver
Tel: (604) 605 3944
Fax: (604) 605 1634
Wellington
Tel: (04) 473 1975
Fax: (04) 473 1545
Macquarie Bank staff located in Johannesburg:
Tel: (11) 636 2627
Fax: (11) 636 8591
Please note
No country codes have been included. When telephoning Australia or New Zealand the first '0' in the area code should not be dialled.
updated 7th June, 2000
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