An amalgamation of the securities and investment banking arms that are purchased by Macquarie has been done by the Company, to give rise to an operational refurbish. The Macquarie Capital Funds has been merged with Macquarie Funds Group (MFG), as said by Australia's largest investment bank.
This amalgamation will see one of Australia's biggest worldwide asset managers, whose entire assets will be managed under $306 billion. The position of Global Head of this new merged group has been given to MFG Head Shemara Wikramanayake, in addition to being on the Company's executive committee.
The Group Head of both Macquarie Capital, which is the division of bank's investment banking, and Macquarie Securities, is Roy Laidlaw, who'll also have the responsibility to oversee both of them. In addition to this, the Executive Chairman of both of them will be Macquarie Capital Head Michael Carapiet, who'll also be in the executive committee.
Working with Macquarie from 2003, Mr. Laidlaw said, "The two units already work very closely together, particularly in equity capital markets. Plus, the changes allow the two businesses to provide greater support to clients; particularly, in newer markets, such as Canada, the US and Europe, where we have been actively building our presence".
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