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Group contribution to profit
based on internal management accounts before tax and profit share
BFS Full Year to 31 Mar 2009: (14) per cent
BFS Full Year to 31 Mar 2008: 5 per cent
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| Staff : Over 2,500 |
| 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, Hong Kong, India, New Zealand, Singapore, 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 a $A14.7 billion Macquarie Cash Management Trust, the leading cash management trust in the Australian market, and the Macquarie Wrap administration service which has $A17.5 billion in funds under administration.
MacquarieDirect
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 cards. 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 has responsibility for the group's ownership of New Zealand fund manager Brook Asset Management and its 19.9% shareholding of equities manager Omega Global Investors. The division includes the Macquarie Professional Series, Macquarie Private Portfolio Management and the Macquarie Pastoral Fund where funds under management increased by 256 per cent since March 2008.
Macquarie Private Wealth
Macquarie Private Wealth maintains direct relationships with over 250,000 clients offering a diverse range of services including full-service and online 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 and has recently entered into a strategic partnership with WHK Group Limited, a listed major Australasian financial services company and a member of Horwath International.
Macquarie Relationship Banking
Macquarie Relationship Banking provides innovative banking services to successful small to medium sized 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 recently launched a premium platform service in the UK.
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