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Management and Organisation |
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* The Investment Banking Group was formed in May 2001, merging the former Asset and Infrastructure and Corporate Advisory and Institutional Stockbroking Groups. |
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Key to Macquarie’s success is a distinctive 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 approach, which we term “loose/tight”, is reflected in the Bank’s organisational structure. It is designed to be non-hierarchical and encourages a sense of ownership and entrepreneurial endeavour by business managers. |
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Business activities are carried out by Divisions, which are coordinated within six major operating Groups – Investment Banking Group (formerly Asset and Infrastructure and Corporate Advisory and Institutional Stockbroking Groups), Treasury and Commodities Group, Equity Markets Group, Banking and Property Group, Funds Management Group and Financial Services Group. |
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The six Groups have the operating freedom to develop and implement business unit strategy, new products and services, market initiatives and domestic and international alliances. Outside the major business Groups is a specialist business, Direct Investment Division, which undertakes development capital activities. |
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All businesses operate within overall guidelines and specific parameters set by the Board and Executive Committee (a central group comprising the Chairman, Managing Director, Deputy Managing Director, business heads and head of the Risk Management Division). The focus of central management is on risks to the Bank arising from market and industry forces and issues of medium and long-term significance. |
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Strong prudential management has been fundamental to the Bank’s success over many years and all business activities are encompassed by a robust risk management framework. The Risk Management Division manages financial risks including credit risk (the risk of counter-party default), market risk (risk arising from changes in price or volatility of the underlying index or asset within trading portfolios), operational risk (the risk of loss arising from inadequate or failed internal procedures and processes), legal compliance risk and liquidity risk. |
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A network of support areas provides the infrastructure that enables the Bank’s businesses to operate. These include the Information Services Division (systems and communications technology), the Corporate Affairs Group (comprising Human Resources and Administration, Corporate Communications, Company Secretarial, Financial Operations, Taxation and the Internet Division), Economic Research and the Quantitative Applications Division. |
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