Hubbry Logo
search
logo
1393443

Macquarie Group

logo
Community Hub0 Subscribers
Write something...
Be the first to start a discussion here.
Be the first to start a discussion here.
See all
Macquarie Group

Macquarie Group Limited (/məˈkwɔːri/), more commonly known as Macquarie Bank, is an Australian multinational investment banking and financial services group headquartered in Sydney and listed on the ASX (ASXMQG).

Macquarie's investment banking division is Australia's top-ranked mergers and acquisitions adviser with more than 871 billion Australian dollars in assets under management and is one of the world's largest infrastructure asset manager. Macquarie Bank's customers have an overall net wealth per capita of A$943,000 (as of March 2024) making them amongst the wealthiest in Australia.

The company employs more than 20,000 staff across four operating groups in 34 markets.

Macquarie was founded on 10 December 1969 as Hill Samuel Australia Limited (HSA), a subsidiary of the UK's Hill Samuel & Co. Limited.

The group's logo is a stylised version of the holey dollar, Australia's first coinage which was designed by Governor Macquarie.

Australian businessman Stan Owens compiled a proposal for Hill Samuel & Co. to establish an Australian subsidiary. After presenting his report in London, Mr Owens was offered the role of implementing it. He became Executive Chairman of Hill Samuel Australia and founded the company from offices at Gold Fields House in Sydney's Circular Quay. The company's first three employees were Stan Owens, Blair Hesketh and Geoff Hobson. Later Chris Castleman (on loan from the British parent) and Bill Clarke joined. David Clarke and Mark Johnson were introduced to HSA and became joint managing directors in 1971. Despite being given a four-year allowance by the British parent to turn a profit, HSA was profitable by the end of its first twelve months of trading.

In 1971, HSA secured Australia's biggest mandate at the time, a US$60 million financing for corrugated iron manufacturer John Lysaght Australia. HSA expanded its presence in the Australian market, opening a Melbourne office in 1972, and a Brisbane office in 1975.

In other business initiatives during the decade, HSA helped pioneer the foreign currency hedge market in Australia, commenced gold bullion trading, extended its coverage to all listed commodities and was one of the first merchant banks to be granted floor member status at the Sydney Futures Exchange.

See all
User Avatar
No comments yet.