Our history

 

Macquarie's operations began in 1969 as merchant bank Hill Samuel Australia (HSA), a subsidiary of Hill Samuel & Co. Limited, London. It opened its doors in Sydney in January 1970 with just three staff. Today, Macquarie provides banking, financial, advisory, investment and funds management services from more than 70 offices around the world.

In 1981, following the deregulation of financial markets, HSA commenced work on a proposal to become a trading bank. HSA was given authority to become Macquarie Bank Limited (MBL) by the Federal Treasurer of Australia on 28 February 1985. It was only the second private trading bank to be established in Australia during the twentieth century.

Macquarie Bank took its name from Lachlan Macquarie, who as Governor of New South Wales transformed the early settlement in Australia from a penal colony into a dynamic economy. His many achievements include the establishment of Australia's first bank and introduction of its first domestic coinage in 1813, the Holey Dollar.

Macquarie's logo is a stylised version of this coin.

Macquarie Bank took over the existing activities of HSA and commenced operations on 1 March 1985 with a retail branch in Sydney. A trading bank branch was opened in Melbourne a few months later and in Brisbane in November 1986.

On 29 July 1996, MBL listed its fully paid ordinary shares on the Australian Securities Exchange (ASX) and on 30 October 1996 entered the ASX's All Ordinaries Index with a market capitalisation of approximately $A1.3 billion.

On 25 October 2007, shareholders approved the restructure of Macquarie Group into a non-operating holding company (NOHC) containing separate banking and non-banking groups. The NOHC, Macquarie Group Limited, is listed on the Australian Securities Exchange (ASX.MQG).

The restructure allowed the Group to:

  • continue to pursue the strategies responsible for its history of strong growth and position for future success
  • meet its obligations to the Australian Prudential Regulation Authority (APRA).

The Explanatory Memorandum provided to shareholders in advance of the scheme meetings to approve the proposed restructure contains further detail of the proposal to shareholders, the rationale for the restructure and implications for Macquarie Bank Limited shareholders.

Frequently asked questions

What did Macquarie Bank Limited shareholders receive on restructure?

Shareholders (with the exception of ineligible foreign shareholders) received one Macquarie Group Limited share in exchange for each Macquarie Bank Limited share.

What did Macquarie Bank Limited optionholders receive on restructure?

Optionholders received one Macquarie Group Limited option in exchange for each Macquarie Bank Limited option.

Who approved the restructure?

The restructure was approved by Macquarie securityholders and optionholders at meetings on 25 October 2007. The Australian Federal Court issued final approval on 29 October 2007.

What was the tax implication upon implementation?

This was not a taxable event for most shareholders and optionholders. For more information, read the Explanatory Memorandum, in particular At a glance, sections 7 and 8.

Did personal shareholder information automatically carry across?

Most personal information for Macquarie Bank Limited shareholders was automatically transferred across to new holdings in Macquarie Group Limited upon implementation. This included name and address details, bank account information, Dividend Reinvestment Plan (DRP) elections and any carried forward DRP balance, and any Australian Tax File Number (TFN) or Australian Business Number (ABN) quoted by a Macquarie Bank Limited shareholder. Shareholders were not required to resubmit these details to Macquarie Group or Computershare in respect of the MQG shares issued to them under the restructure.

What were the relevant dates for Macquarie Bank Limited last trading and Macquarie Group Limited commencement of trading?

Macquarie Bank Limited (MBL) shares final day of trading 2 November 2007
Macquarie Group Limited (MQG) shares commenced trading (deferred settlement basis) 5 November 2007
Record date (date for determining eligibility for receiving Macquarie Group Limited shares or options in exchange for Macquarie Bank Limited shares or options) 12 November 2007
7.00pm
Implementation date (date when Macquarie Group Limited shares or options were exchanged for Macquarie Bank Limited shares or options) 13 November 2007

 

Since commencing operations in Sydney in 1969, a number of milestones have contributed to Macquarie's growth:

2013
  • Macquarie European Infrastructure Fund 4 closed with €2.75 billion in investor commitments
  • Launched Macquarie Rotorcraft Leasing, a helicopter operating leasing businesss
2012
  • Launched Mexican REIT (MMREIT)
  • Launched Commodity Investor Products business
  • Established Canadian Futures business
  • Launched Macquarie Infrastructure Debt Investment Solutions (MIDIS) platform
  • With the acquisition of a portfolio of rail assets from Lloyds Banking Group, Macquarie European Rail business was established
  • Received Hong Kong banking licence
  • Commenced Kasikorn Bank Group strategic alliance
  • Established 1st and largest Infrastructure fund in the Philippines
  • Launched Derivatives Warrants in Thailand
2011
  • Dubai International Financial Centre (DIFC) branch licence received
  • Bank licence received in Singapore
  • Acquired:

    Asset manager INNOVEST Kapitalanlage AG
    SCC Swiss Commercial Capital LTD
    Onstream (UK)
  • Commenced strategic agreements with Foundation Securities, Pakistan and Julius Baer
2010
  • Non Banking Financial Company (NBFC) registration received in India
  • Macquarie Bank Limited, Seoul branch received over-the-counter derivatives license
  • Mexican Infrastructure Fund launched
  • Madrid office opened
  • Moscow office opened
  • Formation of Macquarie Energy (North America)
  • Expansion of Credit Sales and Trading Division with addition of Commercial Mortgage Finance and CMBS Team
  • Launch of Macquarie SBI Infrastructure Fund in India
  • Joint venture with China Everbright to establish two infrastructure funds in China
  • Macquarie's Energy Markets Division commences physical oil trading in Singapore
  • Acquired:

    Relational Technology Services Division
    Delaware Investments (US)
2009
  • Macquarie Renaissance Infrastructure Fund launched
  • Bank licence received in Korea
  • Acquired:

    Constellation Energy's downstream natural gas trading operations (North America)
    Tristone Global Capital Inc (Americas and Europe)
    Fox Pitt-Kelton Cochran Caronia Waller (North America and Europe)
    Macquarie Allegiance Capital (US)
2008
  • Established a UK bank, Macquarie Bank International Limited
  • Macquarie Renaissance joint venture (Moscow)
  • European cash equities platform launched
  • Stockholm office opened (corporate advisory)
  • Mexico City office opened (corporate advisory)
  • Macquarie Private Wealth Asia established
  • Macquarie, State Bank of India and the International Finance Corporation, a member of the World Bank Group, enter a joint venture
  • India’s first joint venture in the wealth management space, Religare Macquarie Private Wealth established
  • Acquired:

    CIT Systems Leasing (US)
    Four Corners Capital Management (US)
    Globalis Investments (US)
  • Macquarie European Infrastructure Fund III launched
2007
  • Established Macquarie Group Limited as a Non-Operating Holding Company
  • Macquarie Bank receives advanced Basel II accreditation
  • US cash equities platform launched
  • First foreign securities company to receive over-the-counter derivatives licence in Korea
  • Acquired:

    Giuliani Capital Advisors LLC (US)
    Orion Financial Inc. (Canada)
2006
  • Acquired Corona Energy (UK)
  • Zurich office opened (financial products)
  • Paris office opened (corporate advisory)
  • Macquarie First South cash equities joint venture between First South Financial Services and Macquarie (South Africa)
  • Macquarie European Infrastructure Fund II launched
2005
  • Acquired Cook Inlet Energy Supply (US)
  • Mumbai office opened
2004
  • Geneva office opened (cash equities)
  • Abu Dhabi Commercial Bank joint venture (UAE)
  • Acquired Asian cash equities business of ING Group (Asia, Europe, US)
  • Macquarie European Infrastructure Fund launched
2003
  • Energy trading (London)
  • First North American infrastructure fund established – Macquarie Essential Assets Partnership (Toronto)
2000
  • Corporate advisory (London)
  • Seoul office opened
  • Tokyo office opened
1999
  • Futures, debt markets and agricultural commodities (London)
  • Acquired the Australian assets of Bankers Trust (Australia, US, Brazil)
  • Established the Treasury and Commodities Group (New York)
1996
  • Macquarie Bank Ltd publicly listed on the Australian Securities Exchange
  • Singapore office opened
1995
  • Hong Kong office opened
  • Beijing office opened
1994
  • Macquarie Bank Ltd., London branch established
  • Foreign exchange (London)
  • New York office opened
  • Established institutional equities desk in New York
1992
  • Acquired Security Pacific (Australia)
1990
  • Acquired Boston Australia Ltd (Australia)
1989
  • London and Munich offices opened (institutional stockbroking)
1988
  • Acquired Chemical Australia Ltd (Australia)
1985
  • Obtained an Australian banking licence as Macquarie Bank Limited
1969
  • Established Hill Samuel Australia Limited, a wholly-owned subsidiary of UK merchant bank Hill Samuel & Co Limited

 

Macquarie looked to Australia's most successful early governor, Governor Lachlan Macquarie, for inspiration in its name and the creation of its logo. Governor Lachlan Macquarie (1761 - 1824) was instrumental in the establishment of Australia's first bank and was also responsible for introducing Australia's first coinage, the Holey Dollar.

In 1813 Governor Lachlan Macquarie overcame an acute currency shortage by purchasing Spanish silver dollars (then worth five shillings), punching out the centres and creating two new coins - the 'Holey Dollar' (valued at five shillings) and the Dump (valued at one shilling and three pence). This single move not only doubled the number of coins in circulation but increased their total worth by 25 per cent and prevented the coins from leaving the colony.

Governor Macquarie's creation of the Holey Dollar was an inspired solution to a difficult problem and for this reason it was chosen as the symbol of Macquarie Group.

Holey dollar

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