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☆ Macquarie sends shareholders a sell signal
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +2 min

Chief Executive of the Macquarie Group Shemara Wikramanayake, is seen in this handout picture taken in Sydney, Australia in 2022 released on May 5, 2023. Macquarie Group and Alice Boshell/Handout via REUTERS. Acquire Licensing RightsMELBOURNE, Nov 3 (Reuters Breakingviews) - Macquarie (MQG.AX) boss Shemara Wikramanayake knows how to time the market. The two moves seem designed to calm any shareholders nervous about the bank’s dip in fortunes. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Alice Boshell, Shemara Wikramanayake, Macquarie, Antony Currie, Aston Martin, Una Galani, Thomas Shum Organizations: Macquarie Group, REUTERS, Acquire, Rights MELBOURNE, Reuters, X, Pfizer, Thomson Locations: Sydney, Australia, Handout, Macquarie

The Sydney-based financial conglomerate has not had a steeper first-half profit drop in more than a decade. The results capped a run of "exceptional conditions" last year in the company's commodity trading and asset management segments, buoyed by energy market volatility and ripe conditions for asset sales, respectively, Chief Financial Officer Alex Harvey told Reuters. Macquarie said the asset management division's income should rebound in the second half to about the A$940 million it reported in the same period last year. The company said fees and commissions at investment banking arm Macquarie Capital were in line with the previous comparable period. Profit fell 28% to A$430 million.

Persons: David Gray, Alex Harvey, Macquarie, Shemara Wikramanayake, Wikramanayake, Barrenjoey, Lewis Jackson, Roushni Nair, Rishav Chatterjee, Jamie Freed Organizations: Macquarie Group Ltd, REUTERS, Macquarie, Reuters, Citi, Investment, Thomson Locations: Sydney, Australia, SYDNEY, Ukraine, North America, Israel, Bengaluru

☆ Macquarie flags lower quarterly profit as commodities arm flounders
▼ + stars: | 2023-07-27 | by ( Harish Sridharan | ) www.reuters.com time to read: +2 min

Macquarie's Commodities and Global Markets (CGM) unit, its biggest earner, has for several years cashed in on increasing hedging activity amid volatility in oil and gas markets. That had driven the Sydney-based firm's annual earnings to a record A$5.18 billion ($3.53 billion) in fiscal 2023 ended March. While Macquarie did not disclose a profit figure in its quarterly update, Citi Research had expected first-quarter earnings of around A$1 billion ($680.90 million). The analysts noted, however, that Macquarie's earnings may have come in below that. At the end of the quarter, Macquarie's capital surplus stood at A$10.8 billion.

Persons: Shemara Wikramanayake, Macquarie, Harish Sridharan, Navya Mittal, Echha, Subhranshu Sahu, Christopher Cushing Organizations: Macquarie, Citi, Macquarie Group, Macquarie's Commodities, Global Markets, Citi Research, Thomson Locations: Sydney, Bengaluru

☆ World Bank names CEOs to help bring private funds to climate, development finance
▼ + stars: | 2023-07-10 | by ( David Lawder | ) www.reuters.com time to read: +2 min

WASHINGTON, July 10 (Reuters) - The World Bank on Monday named 15 chief executive officers including financiers and asset managers to a group launched by the lender's president, Ajay Banga, aiming to marshal more private capital to combat climate change and boost investment in developing countries. Banga announced the initiative at a global finance summit in Paris last month alongside Mark Carney, the U.N. special envoy on climate action, and Shriti Vadera, chair of Prudential Plc (PRU.L). The World Bank and the CEOs will work "to develop, test, implement and ultimately scale financing structures that can most effectively mobilize private capital," Carney said in a statement. He said in a statement that the Private Investment Lab CEOs were a "crucial piece of the puzzle" to devise ways to pull more private sector investment into the intertwined challenges of poverty, climate and fragility. Reporting by David Lawder; Editing by Will Dunham and David GregorioOur Standards: The Thomson Reuters Trust Principles.

Persons: Ajay Banga, Joe Biden, King Charles . Banga, Mark Carney, Shriti Vadera, Carney, Thomas Buberl, Larry Fink, BlackRock, Noel Quinn, Hendrik du Toit, Jessica Tan, Sim Tshabalala, Bill Winters, Dilhan, Mark Gallogly, Banga, David Lawder, Will Dunham, David Gregorio Our Organizations: Bank, Investment, U.S, Prudential Plc, World Bank, AXA, HSBC, Shemara, Mitsubishi UFJ Financial, Ping An, Royal Philips, Standard Bank, Standard Chartered, Sustainable Energy, Tata Sons, Temasek, Cairns, Mastercard, Private Investment, Thomson Locations: Britain, Paris, Macquarie, Banga

☆ Macquarie commodities and markets boss earns $39 million, trumping CEO
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +1 min

SYDNEY, May 5 (Reuters) - Macquarie Group's (MQG.AX) commodities and global markets (CGM) division head earned about A$57.6 million ($39 million) for the year ending March 31, topping the CEO's A$32.8 million compensation, according to the Australian bank's annual report. Nick O'Kane's 59% pay bump - he earned A$36.2 million in the last financial year - came after CGM contributed 57% of the Sydney-based firm's net profit, more than double the second-best asset management division. Macquarie posted another record annual profit on Friday, primarily driven by a strong performance from the CGM division, as more customers hedged against volatile energy markets. "Inventory management and trading increased substantially, driven by trading income from regional supply and demand imbalances primarily in North American gas and power markets." ($1 = 1.4901 Australian dollars)Reporting by Praveen Menon; Editing by Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

☆ Macquarie sees higher income from commodities arm, logs record profit
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +1 min

May 5 (Reuters) - Australia's Macquarie Group (MQG.AX) on Friday forecast higher short-term income from its lucrative commodities trading business as price volatility and increased hedging boosted the company's annual profit to a record high. The Sydney-based firm's Commodities and Global Markets segment posted a net profit of about A$6 billion ($4.02 billion), 54% higher than last year, as more customers hedged against volatile energy markets. In the short term, the company expects consistent contributions from client and trading activity in the financial markets platform. It also bumped up its final dividend to A$4.50 per share from A$3.50 per share a year earlier. ($1 = 1.4932 Australian dollars)Reporting by Roushni Nair and Rishav Chatterjee in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Australian prime minister seeks to diversify trade, investment on visit to India
▼ + stars: | 2023-03-07 | by ( ) www.cnbc.com time to read: +1 min

Australian Prime Minister Anthony Albanese said on Tuesday his government wants to diversify trade and foreign investment partners, as he prepares to lead a business delegation to India which he said shares Australia's democratic values. China is easily Australia's largest trading partner, although a diplomatic dispute has resulted in what Australia calls "trade blockages" being imposed by China on a raft of Australia's exports. Canberra has asked Beijing to remove those blockages as the two nations resume talks after a years-long diplomatic freeze. Business leaders across transport, resources, finance, higher education, architecture and energy will on Wednesday accompany Albanese to India, which is Australia's sixth largest trading partner. The delegation includes Macquarie Group Chief Executive Shemara Wikramanayake, Commonwealth Bank of Australia Chief Executive Matt Comyn, Fortescue Metals Group founder Andrew Forrest, Universities Australia Chief Executive Catriona Jackson, and executives from BHP , Rio Tinto and Graincorp .

☆ Australian PM seeks to diversify trade, investment on India visit
▼ + stars: | 2023-03-06 | by ( Kirsty Needham | ) www.reuters.com time to read: +3 min

SYDNEY, March 7 (Reuters) - Australian Prime Minister Anthony Albanese said on Tuesday his government wants to diversify trade and foreign investment partners, as he prepares to lead a business delegation to India which he said shares Australia's democratic values. China is easily Australia's largest trading partner, although a diplomatic dispute has resulted in what Australia calls "trade blockages" being imposed by China on a raft of Australia's exports. Business leaders across transport, resources, finance, higher education, architecture and energy will on Wednesday accompany Albanese to India, which is Australia's sixth largest trading partner. "We can do all these things as well as remaining a trusted and reliable supplier of energy to key trading partners such as Japan and the Republic of Korea," he added. Albanese said Australia would be "deepening and diversifying our international investment and trade links".

☆ M&G would be a tricky hop for kangaroo raider
▼ + stars: | 2023-03-02 | by ( Neil Unmack | ) www.reuters.com time to read: +3 min

LONDON, March 2 (Reuters Breakingviews) - M&G (MNG.L) would be a tricky hop for Macquarie (MQG.AX). The $48 billion Australian financial powerhouse may bid for the $6 billion UK insurer. The appeal is likely to be in the fund management group. Macquarie’s own asset management arm accounted for over 30% of net profit in the first half of its current financial year. Follow @Unmack1 on TwitterCONTEXT NEWSAustralian banking group Macquarie is considering a bid for UK insurance and asset management group M&G, Sky News reported on March 1.

☆ Macquarie sees more commodities unit strength after profit jumps
▼ + stars: | 2022-10-27 | by ( ) www.reuters.com time to read: +2 min

Oct 28 (Reuters) - Australia's Macquarie (MQG.AX) on Friday forecast higher short-term income from its commodities trading business, after the unit tapped volatile oil and gas prices to boost profit in the first half. Financial conglomerates such as Macquarie have benefited from sharp volatility and supply chain disruptions in commodities markets that began in 2020 and increased this year with Russia's invasion of Ukraine. read moreThe Sydney-based firm's Commodities and Global Markets (CGM) segment delivered a net profit contribution of about A$2 billion, 15% higher than last year, thanks to more clients hedging against volatile energy markets. The financial conglomerate's attributable profit for the six months to September was A$2.31 billion ($1.49 billion), compared with A$2.04 billion reported a year ago and a Refinitiv IBES estimate of A$2.19 billion. Macquarie also warned that transaction activity at the segment would be substantially lower in the short-term, compared with record levels seen last year.

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