Macquarie restructure takes shape
Macquarie Bank has provided clear information on how it will look after it fully restructures into two separate companies — one a bank-side company the other non-bank — later this year.
In an announcement released on the Australian Stock Exchange this week, Macquarie said the ultimate parent entity of the Macquarie Group was currently Macquarie Bank Limited but that following the restructure the ultimate parent entity would be Macquarie Group Holdco.
It said this was expected to occur in the last quarter of the calendar year and that at that time Macquarie Group Holdco would become the ultimate parent entity of Macquarie Communications, Macquarie Infrastructure Management Limited, Macquarie Specialised Asset Management Limited and Macquarie Office Management Limited.
The information was provided as part of a notification that control of Generator Investment Australia Limited had passed from Macquarie Bank Limited to Macquarie Funds Management Holdings Limited, effective from August 1.
AUTHOR
Mike Taylor
Recommended for you
Far too few wealth managers are capitalising on the opportunity presented by disruptive technology to deliver personalised investment solutions to the mass affluent demographic, according to PwC.
With over half of advisers using managed accounts, HUB24’s head of managed portfolios has unpacked the benefits driving their usage and how they can be leveraged by advice practices.
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
ASX-listed platforms HUB24, Netwealth, and Praemium have used their AGMs to detail how they are using artificial intelligence to improve their processes and the innovative opportunities it presents.
