Business
Pandemic proves Macquarie’s power yet again – The Australian Financial Review
Macquarie’s markets business provided Tuesday’s surprise, but its towering asset management division is the real powerhouse in the Millionaire’s Factory.
But arguably it is the annuity businesses that Wikramanayakes predecessor Nicholas Moore focused so heavily on and that typically contributes about 60 per cent of the groups earnings that has underpinned Macquaries COVID-19 bounce.
Macquaries Asset Management division, which has $550.9 billion under management and typically accounts for about 40 per cent of group earnings, has demonstrated impressive resilience during the pandemic under group head Martin Stanley, who announced on Tuesday that he…
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