Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Macquarie expands mortgage book by $1.6bn

macquarie

macquarie
Reporter 1 minute read

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:

  • strong growth opportunities through intermediary and direct retail client distribution, white labelling, platforms and client service;
  • opportunities to increase financial services engagement with existing business banking clients and extend into adjacent segments; and
  • modernising technology to improve client experience and support growth.

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.

Advertisement
Advertisement

PROMOTED FEATURES


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.

[Related: Brokers vs branches: The competitive utility of the broker channel]

Macquarie expands mortgage book by $1.6bn
macquarie
TheAdviser logo
macquarie

 

more from the adviser
remuneration money Conflicted remuneration defined in new regulations

The federal government has released final regulations that define...

empty wallet COVID-19 erodes FHB deposit savings: MyState

Nearly a quarter of those Australians who have dipped into their ...

signatories f6bb COBA welcomes closer ties between regulators

The association for customer-owned banks has said that the MOU be...

FROM THE WEB