Is it time that Macquarie shifted its headquarters from Sydney and moved abroad?
International income is outstripping domestic revenue at the firm’s three largest divisions: capital, equity markets, and treasury and commodities. But Big Mac isn’t budging. In 2007 it announced it was sticking in Sydney for the foreseeable future.
And last month chief executive Nicholas Moore told the Australian Financial Review: “Offshore might be big, but our biggest single business is in Australia; it has been a good place for us to do business over the years. It is an outstanding regulatory environment. So from a group point, Australia is best.”
However, as the Macquarie model comes under greater scrutiny, does it still make sense to be based so far from its overseas infrastructure investments? (Sydney Morning Herald)
Is there a foreign city that could realistically replace Sydney? Can you see Macquarie bosses relocating to New York? London? Tokyo? Hong Kong?
Should Macquarie go home or away? Have your say below.