Macquarie Group Limited

What does Macquarie Group own?
Macquarie Group Limited owns Macquarie Bank Limited (its banking subsidiary), Macquarie Asset Management, Macquarie Capital, and the Commodities and Global Markets division. The group manages A$941 billion in assets as of March 31, 2025. Its infrastructure funds own toll roads, airports, ports, and utilities globally. The company operates under a single corporate brand across all four business groups.

Is Macquarie Bank publicly traded?
Yes, Macquarie Group Limited is listed on the Australian Securities Exchange under the ticker MQG. American Depositary Receipts trade over the counter under the ticker MQBKY. The company is a constituent of the S&P/ASX 20 index and is widely held by Australian institutional investors and superannuation funds.

Who founded Macquarie Bank?
Macquarie Bank was established in 1969 as a subsidiary of British merchant bank Hill Samuel & Co. The subsidiary was created to provide merchant banking services in Australia. In 1985, it obtained an Australian banking license and was rebranded as Macquarie Bank, named after Lachlan Macquarie, the Governor of New South Wales from 1810 to 1821. The company listed on the ASX in 1996.

Where is Macquarie headquartered?
Macquarie Group Limited is headquartered at 50 Martin Place, Sydney, New South Wales, Australia. The company operates in 31 markets globally, with significant offices in London, New York, Hong Kong, Singapore, and Tokyo. International income accounts for 66% of total income.

What is Macquarie's revenue?
Macquarie Group reported FY2025 net operating income of A$17,208 million (year ended March 31, 2025), up 2% from FY2024. Net profit after tax was A$3,715 million, up 5%. Diluted earnings per share were A$9.76. The company's return on equity was 11.2%. Assets under management were A$941 billion.

Who is the CEO of Macquarie?
Shemara Wikramanayake is the Managing Director and Chief Executive Officer of Macquarie Group. She assumed the role in December 2018, becoming the first woman to lead an ASX 100 company. Prior to becoming CEO, she led Macquarie Asset Management for a decade. She has worked at Macquarie since 1987.

What is Macquarie known for?
Macquarie is known as the world's largest infrastructure asset manager and one of the largest commodities traders globally. The company was dubbed the "Millionaires' Factory" during the 2000s for the high compensation levels of its senior staff. Macquarie is also known for its conservative capital management and its significant investments in renewable energy through the Green Investment Group.

Macquarie's origins trace back to 1969, when British merchant bank Hill Samuel & Co. established a subsidiary in Sydney called Hill Samuel Australia. The subsidiary was created to provide merchant banking services to the Australian market, which was then dominated by domestic commercial banks with limited capacity for specialized corporate advisory work.

Throughout the 1970s, Hill Samuel Australia built expertise in mining finance, corporate advisory, and project finance. The Australian operations grew steadily, but the parent company in London was constrained by capital limitations and the challenging economic conditions of the era.

In 1985, Hill Samuel Australia obtained an Australian banking license and rebranded as Macquarie Bank Limited. The name references Lachlan Macquarie, the Governor of New South Wales from 1810 to 1821, who is often called the "father of Australia." The banking license allowed Macquarie to accept deposits and expand its funding base beyond wholesale markets.

Macquarie listed on the Australian Securities Exchange in 1996. The IPO valued the company at approximately A$1.3 billion. The listing provided capital for international expansion and allowed Macquarie to compete more directly with global investment banks operating in Australia.

The late 1990s and 2000s were defined by the "Macquarie Model" of infrastructure investment. Macquarie created listed and unlisted infrastructure funds that acquired toll roads, airports, and utilities globally. The model involved Macquarie buying infrastructure assets, packaging them into funds, and earning recurring management fees. At its peak, Macquarie managed more than A$100 billion in infrastructure assets and was dubbed the "Millionaires' Factory" for the compensation levels of its senior staff.

The global financial crisis of 2008 hit Macquarie hard. The infrastructure model came under pressure as leverage costs rose and fund valuations fell. Macquarie's share price declined by more than 70% from its 2007 peak. The company responded by deleveraging, writing down impaired assets, and shifting its business mix toward annuity-style income.

In the 2010s, Macquarie rebuilt and diversified. The company expanded its asset management business through acquisitions, including the purchase of Delaware Investments in 2010 for A$428 million. Macquarie also grew its commodities trading operation into one of the largest in the world, particularly in energy and metals markets.

Shemara Wikramanayake became CEO in December 2018, succeeding Nicholas Moore. Under her leadership, Macquarie has increased its investments in renewable energy, expanded its digital banking platform, and grown its mortgage book. The company acquired the Green Investment Group from the UK government in 2018, establishing a major presence in green energy financing.

In FY2025, Macquarie reported its second-highest profit result on record. The A$3,715 million net profit was achieved despite softer conditions in commodity markets. Banking and Financial Services profit reached A$1,380 million, driven by growth in the loan portfolio. Macquarie Asset Management profit rose to A$1,610 million, boosted by higher performance fees and the sale of Macquarie Rotorcraft.

Macquarie has positioned itself as a leader in green finance. The Green Investment Group, acquired from the UK government in 2018, has financed more than A$100 billion in renewable energy projects globally. Macquarie has committed to net zero emissions in its operations by 2025 and across its financing portfolio by 2050.

The company is a signatory to the Principles for Responsible Investment and publishes an annual Sustainability Report aligned with the Task Force on Climate-related Financial Disclosures (TCFD) framework. Macquarie has set science-based targets for reducing its operational emissions.

Macquarie is not a Certified B Corporation. The company does not have Leaping Bunny certification or RSPO membership, as these are not applicable to a financial services company.

Macquarie has faced regulatory scrutiny in multiple jurisdictions. In 2022, Macquarie Securities (Australia) was fined A$4.9 million by the Australian Securities and Investments Commission (ASIC) for failing to report certain trading activity over a period of several years. The breach involved 25,000 unreported trades between 5 and 44 days late.

In 2023, the US Commodity Futures Trading Commission (CFTC) ordered Macquarie Bank to pay US$17.5 million for supervision failures related to its commodities trading desk. The CFTC found that Macquarie failed to properly monitor a trader who manipulated markets.

Macquarie has also faced criticism for its role in financing fossil fuel projects. Environmental groups have pointed to the company's continued financing of coal and gas projects despite its green energy commitments. Macquarie has responded by pointing to its A$100 billion-plus in renewable energy investments and its commitment to transition its financing portfolio.

The "Macquarie Model" of infrastructure investment came under heavy criticism during and after the global financial crisis. Critics argued that the model involved excessive leverage, inflated asset valuations, and conflicts of interest where Macquarie both managed and sold assets to its own funds. Macquarie restructured its infrastructure business in response, reducing leverage and improving governance.