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Banking & Financial Services Group

Group contribution to profit
based on internal management accounts before tax and profit share

BFS Half Year to 30 Sep 2008:      (22) per cent
BFS half Year to 30 Sep 2008:           5  per cent

Staff :    2,779
Activities
BFS is the primary relationship manager for Macquarie Group’s retail client base. The Group brings together Macquarie’s retail banking and financial services businesses providing a diverse range of wealth management products and services to financial advisers, stockbrokers, mortgage brokers, professional service industries and the end consumer.
Locations 
Australia, Canada, India, New Zealand, Singapore, Hong Kong, the UK and the US.

The Group provides a full range of services in the retail banking and financial services sector in Australia and internationally.  It aims to provide the highest level of client services for all Macquarie retail clients.

Macquarie Adviser Services

Macquarie Adviser Services manages relationships with external financial intermediaries and provides sales services and product management of in-house and external products including retail superannuation, investment lending, Macquarie Life insurance, Coin financial planning software and outsourced paraplanning and mortgages.  The division includes the $A16  billion Macquarie Cash Management Trust, the leading cash management trust in the Australian market, and the Macquarie Wrap administration service which has $A21 billion in funds under administration.

Macquarie Direct

Macquarie Direct provides a range of consumer and financial products for non-advised clients in Australia. This includes Macquarie credit cards, self directed stock broking through an online trading platform and cash products.  The division manages a full range of credit card offerings ranging from low rate, low fee cards through to premium.  The business also offers a white label partnering capability.

Macquarie Global Investments

Macquarie Global Investments provides the group with product development capabilities for retail and wholesale investors globally. It currently manages institutional boutique investment firm Queen St Partners and has responsibility for the group's ownership of New Zealand fund manager Brook Asset Management. The division includes the Macquarie Professional Series, Macquarie Private Portfolio Management and the Macquarie Pastoral Fund where commitments from investors have grown by more than $A500 million since September 2007.

Macquarie Private Wealth

Macquarie Private Wealth maintains direct relationships with over 200,000 clients offering a diverse range of services including full-service broking, strategic financial planning, executive wealth management, private banking and private portfolio management.

The stockbroking business is Australia’s leading full-service retail stockbroker by market share and trading volumes, and the division continues to significantly grow its adviser base as well as its client numbers. The division currently has a 51% interest in online foreign exchange company OzForex which also has subsidiary outlets UKForex and CanadianForex.

Macquarie Relationship Banking

Macquarie Relationship Banking provides innovative banking services to successful small to medium businesses, professionals and high net worth individuals in Australia, Canada and the UK.

Banking services include finance for business growth, business and property acquisition and succession planning. The business also provides deposit facilities and payment collection systems to the professional services sector. Other core activities include financing business insurance premiums and providing flexible lending facilities to active property investors.

The division also owns 100% of Insurance Pay Canada Inc., one of Canada's largest premium funding companies.  It also has operations in the UK providing business lending services to the UK insurance broking industry.

International Wealth Management

Macquarie International Wealth Management is responsible for expanding the group’s wealth management business into new international markets.

The division has a joint venture agreement with Indian company Religare to offer advice and wealth management solutions to high net worth investors in India.  The division also recently established a Private Wealth business in Singapore and is planning to expand into other Asian markets.  It continues to develop opportunities for a premium platform service in the UK.


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Management and organisation
 
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Macquarie's Six Business Groups
 

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Other than Macquarie Bank Limited ABN 46 008 583 542 (MBL), any Macquarie Group entity noted on this page is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). That entity's obligations do not represent deposits or other liabilities of MBL. MBL does not guarantee or otherwise provide assurance in respect of the obligations of that entity, unless noted otherwise.