The group’s retail banking division has reported a quarterly rise of 5 per cent in its mortgage portfolio, with further growth expected off the back of “strong growth opportunities through intermediary and direct channel distribution”.
Ahead of its annual general meeting on Thursday (26 July), Macquarie Group announced that its Banking and Financial Services (BFS) division posted mortgage portfolio growth of 5 per cent in the last quarter, from $32.7 billion in March 2018 to $34.3 billion.
The group’s funds on platform rose by 5 per cent to $86.8 billion, with its business loan book also growing by 3 per cent to $7.5 billion. Total BFS deposits also increased by 3 per cent to $46.9 billion.
In its medium-term outlook, Macquarie claimed that it expects continual growth in its BFS division, pointing to:
Macquarie CEO resigns
Prior to the commencement of the group’s AGM, Macquarie Group chairman Peter Warne announced Nicholas Moore’s decision to retire as managing director and CEO of Macquarie Group, effective as of 30 November 2018.
Mr Moore will be replaced by Macquarie’s group head of asset management, Shemara Wikramanayake, who will also be appointed to the boards of Macquarie Group Limited and Macquarie Bank.
Ms Wikramanayake joined Macquarie in 1987 and worked with Mr Moore in corporate services and then in establishing Macquarie Capital, which at that time included advisory, infrastructure funds, corporate leasing and lending, and cash equities.
Ms Wikramanayake was appointed head of Macquarie asset management in 2008, when Mr Moore became the group CEO.
Since joining Macquarie, Ms Wikramanayake has worked in nine cities in six countries and across several business lines. This has included establishing and leading Macquarie’s corporate advisory offices in New Zealand, Hong Kong and Malaysia, and the infrastructure funds management business in the US and Canada.
Ms Wikramanayake also serves as chair of the Macquarie Group Foundation.
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