Macquarie Bank Announces Insurance Broking Changes

27 June 2006

Sydney: Macquarie Bank Limited (“Macquarie”) has strengthened its insurance broking offering with the formation of a dedicated insurance broking business unit.

The new Insurance Broking Services Team formally integrates Macquarie’s business banking and premium funding units into a single, dedicated team.

Macquarie Associate Director, Paul Cilia, will head the new national Insurance Broking Services Team.

“In an environment of softening premiums, brokers need to grow their businesses and improve efficiencies to maintain their bottom lines. By bringing our experts together in one area we are in a better position to help brokers achieve these goals,” Mr Cilia said.

“Broking clients can now easily access all our innovative offerings quickly and easily from one dedicated team, whose members understand them and their business. By utilising our services and partnering with us clients can focus on developing strategy and growing their businesses.”

The Team formally brings together all of Macquarie’s business banking and premium funding specialists to assist brokers with all their financial, premium funding and investment needs, including:

1. Business loans, including cash flow lending, to facilitate business acquisition, succession planning, and business premises acquisition.

• Premium funding (via Macquarie Premium Funding)
• Trust banking services
• Premium payment collection & reconciliation systems (via Macquarie Premium Payments)
• Investment loans for personal wealth creation.

Mr Cilia also announced the introduction of a specialist Deposit and Transaction Team (DATT) to help new broking clients transition their banking facilities across to Macquarie.

“We know changing financial institutions is a daunting thought - so the DATT specialists will help make this process as painless as possible. DATT’s members will oversee new clients’ banking transitions and conduct in-house training on Macquarie’s online banking facilities. They can even open clients’ cheque and trust accounts.

“DATT’s team members are experts in their field, and we’ve received glowing feedback from new clients who have used their services.”

Mr Cilia is confident the new team structure will allow Macquarie to increase its rate of innovation for the industry.

“With all our broking specialists in one area we are in an even stronger position to develop solutions to brokers’ financial needs and help them drive back office efficiency, business growth and profitability.”

For further information, please contact:

Suzanne Houweling,
Senior Media Manager
Banking Division
Tel: 61 2 8232 7029
Mobile: 0410 499 034