Macquarie’s revolving door spins again
Christine Buckland has become the third head of Macquarie’s private banking business to depart this year.
Buckland handed in her resignation last week after just five months in the job.
In January, Andrew Barnes left the top spot for a move to e-commerce while in June Buckland's successor Tony Bates also departed.
Buckland has been with Macquarie for the past six years and leaves the group for Pitcher Partners, a Melbourne-based accounting group. She will be heading up the existing investment advisory practice and building private banking capabilities to service the firm's high net wealth private clients. Buckland is the firm's first female partner.
Kieran Netting has been named as Buckland's successor at Macquarie. Netting has spent the past year at Macquarie private banking's Melbourne office.
He says there has been a lot of changes in Macquarie's structure in the past year which have benefited the group.
"These departures should not be perceived to show Macquarie's private banking as being shaky," Netting says.
Netting would not disclose funds under advice for the business but describes the figures as "healthy".
"Our vision is one of strength and one of growth. We have a high net worth client base at present, and in terms of business we continue to provide financial adviser offering, strategic advisory services to strengthen the relationship with our clients and advisers," he says.
"This is an extremely attractive market, clearly there is a need."
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