Macquarie Bank employees (2 Viewers)

[pungpui]

Hey pungpui....how did you manage to land the job at Macq last year, and how do you work it around uni? Or is it only a summer-time program?

Hi mate,

Nah its not the summer ones. I think the accouting 4 offer cadetships of some sort which pretty much get people straight from yr 12 and make them do a 5 year part time course while working full time (omg i couldnt imagine doing that hell for 5 whole year). But the youngest Macquarie does i think is the summer intern in your penultimate year (go for it, its worth it!).

I work a couple days a week during uni, while doing uni full time (so i dont have to finish a full day of work then goto uni at 6pm then get home at 10pm, then wake up for work early again...i pity those with cadetships!).

 

[Raiks]

I used to work at Macquarie Bank but I threw it in. It just wasn't for me. I'm assuming you're at Elizabeth St? Which department are you in?

 

[pungpui]

I'm in FSG, at Bond. Elizabeth Street? Is there even an office there? I thought in Sydney CBD it was only Martin Place, Bond and Hunter Street.

 

[pungpui]

O i thought we established that Macq are in London. If you're really keen, look at www.macquarie.com, on the homepage you can click on their local sites. On the intranet, it says choose your location, it even says Memphis! wtf is in Memphis!? (apart from the obvious)

 

[§eraphim]

Is it that hard to transfer between different front office positions? (obviously given you produce good results)

I've never asked. I think it depends on how mature the bank is (younger banks probably just get ppl from other desks to create new ones). I'd imagine now that it wouldn't be too easy given the different dynamics of each market, say equities (black-scholes world) vs electricity (?).

On a side note, FYA: the new ACTL2001 Financial Mathematics lecturer was a Mac Bank trader.

 

[= Jennifer =]

pungpui what university are you at and what degree are you studying?

 

[seremify007]

I'm not sure but I've seen him post a lot on the UTS board in B Bus topics.

 

[Raiks]

If you'd like to consult a street directory, you'd be amazed to find that Martin Place has quite a bit in common with Elizabeth St. :O

 

[pungpui]

R u sure u worked @ Macquarie? Coz if you worked at Martin Place you would very clearly remember that Pitt St mall is on your right, so clearly you would have remembered that its the corner of Pitt St, not Elizabeth.

 

[Soma]

MB = Slave factory. Globally, a tiny fish in investment circles and virtually unknown on Wall St. To give an indication of where MB lies in relation to the big wall st investment banks (by market capitalisation as per Business Week Global 1200, Dec-05):

1. Citigroup (US$245.61 billion)
2. Bank of America (US$184.16 billion)
3. HSBC (US$179.05 billion)
4. JP Morgan Chase (US$134.01 billion)
5. Wells Fargo (US$105.54 billion)
6. UBS (US$94.47 billion)
etc. etc. etc.......

560. Macquarie Bank (US$11.2 billion)

You are a moron.

How does market capitalisation show whether a bank is better or not? CBA has a higher market capitalisation I'd still much rather work for Macquarie (which I do in BPG). I think you'll find a lot of boutique US IB's are far more respected than the massive corporations such as Citibank.

Seeing as all you guys seem to have only one thing on your minds which is money you may be interested to know that Alan Moss was Australia's highest paid CEO in 2005. His base remuneration and bonus totalled $18.5 million.

Sure Citibank, Deutsche and UBS may have a higher market capitalisation than Macq but I'm sure that you'll find their head of Australian Operations would have a far smaller salary than Alan. In terms of investment banking opportunities in Australia Macq is the best at the moment.

Also a lot of the banks you listed have a lot of their income coming in from retail banking so it's pretty stupid to compare them to Macquarie.

 

[seremify007]

Sure it's stupid to compare them to Macquarie, but then I wonder, what is the point of comparing them in the first place?

 

[pungpui]

You are a moron.

How does market capitalisation show whether a bank is better or not? CBA has a higher market capitalisation I'd still much rather work for Macquarie (which I do in BPG). I think you'll find a lot of boutique US IB's are far more respected than the massive corporations such as Citibank.

Seeing as all you guys seem to have only one thing on your minds which is money you may be interested to know that Alan Moss was Australia's highest paid CEO in 2005. His base remuneration and bonus totalled $18.5 million.

Sure Citibank, Deutsche and UBS may have a higher market capitalisation than Macq but I'm sure that you'll find their head of Australian Operations would have a far smaller salary than Alan. In terms of investment banking opportunities in Australia Macq is the best at the moment.

Also a lot of the banks you listed have a lot of their income coming in from retail banking so it's pretty stupid to compare them to Macquarie.

OMG Thank you!!! For actually answering my first question.

 

[theone123]

tacky, your somehow, avoiding answering Soma's questions.

 

[pungpui]

$18.5m (I suppose this is in Aussie Dollars) LOL!!!!!! what a joke!! If I was Alan Moss I would stop getting ripped off by Mac Bank and quit and join Citigroup as a junior analyst or something at Citigroup's Smith Barney brokerage division. In 2002, Sanford Weill's the then CEO of Citigroup was paid USD $785 million (the highest-paid executive in the world).

Well i got news for ya, your not Allan Moss! Are you earning over $18 million a year?? I dont think so! So dont go and knock someone for getting a job at Australia's largest IB and one of the highest paid CEO's in the country.

And y are you then going on to compare "the highest-paid executive in the world"? Did you expect Macquarie, whose profit was about $800 million last fin year to pay the CEO that??

 

[Soma]

If such boutique investment banks (e.g. Mac Bank ) are so respected compared to Citigroup then why has the former World Bank president James Wolfensohn, along with his deputy, Shengman Zhang (who resigned soon after Wolfensohn left) joined Citigroup joining the likes of Stanley Fisher (former #2 of the International Monetary Fund), Robert Rubin (former US Treasury Secretary) and Gerald Ford (former president of the United States) at Citigroup.

I never said that Mac Bank was a boutique IB. In fact it is Australia's biggest IB. Last year it topped the 2005 Thompson Financial ladder for equity capital markets, capital raising and floats.

In Australia last year it raised over $8billion, more than any other IB in Australia. UBS was second with $6.8billion.

Macquarie also had the highest paid CEO in Australia for 2005.

The point I was illustrating was that when it comes to IB's market capitalisation doesn't mean shit. Citigroup also has a shitload of employees. I would rather work for a smaller company.

Ummmmm......dunno maybe Mac Banks meagre $11b market capitalisation had something to do with it losing the $25b T3 float to some other more cashed up IBs......dunnoo......

As I said Macquarie raised the most amount of capital in Australia and also had the largest market share in 2005.

T3 is an advisory role. Why the fuck would amounts of money mean anything for why the government is choosing a particular bank for an advisory role? As it happens it looks as though it has been given to UBS and Caliburn. Caliburn is an independent house with far less money and resources than Macquarie. Your argument here is completely invalid.

You hav still failed to argue why market capitalisation means anything for evaluating whether a company is good or not. Especially when comparing an international bank to a domestically based one.

$18.5m (I suppose this is in Aussie Dollars) LOL!!!!!! what a joke!! If I was Alan Moss I would stop getting ripped off by Mac Bank and quit and join Citigroup as a junior analyst or something at Citigroup's Smith Barney brokerage division. In 2002, Sanford Weill's the then CEO of Citigroup was paid USD $785 million (the highest-paid executive in the world).

I have never said that Macquarie is bigger than Citigroup.

We live in Australia. Macquarie has the highest paid CEO in Australia.

Citigroup is an amazingly large company with masses of interests all over the world and the capital to buy pretty much anything they want. That doesn't mean I'd want to work for them.

Comparing Macquarie which is based in Australia and only floated in 1996 to massive American IB's only makes you look like an absolute dolt.

Why would I want to work for Citigroup in Australia over Macquarie which is the biggest in Australia just because Citigroup is big overseas.

Of course I would prefer to work in a US IB than be in MBL's New York Office however.

 

[jase_]

. Anyways, I wouldn't mind getting into Macquarie Bank. I need some tips!

 

[MAICHI]

Also a lot of the banks you listed have a lot of their income coming in from retail banking so it's pretty stupid to compare them to Macquarie.

Very true, most of Citigroup is just Citibank, the largest retail bank in the world. If you combine Macquarie with NAB you can get them into top 50 I say.

 

[§eraphim]

Market cap isn't the best way to rank the players (including hedge funds!) They are usually based on revenues/profits.

Also, in Asia Pac, all the action takes place in HK and Tokyo. Hence, applying global ranks to Australia would be fallacious.

 

[seremify007]

LOL @ this topic. Can't people just be happy for the guy who got the job? I mean that's pretty impressive he got the job at his age~

... and to think that I thought the rivalry in Big4 Accounting firms was big. *steps back*

 

[Grizzly]

this is gettinng lame...comparing ib's like you've all worked in each one of them

the size, market cap, culture, bod renumeration..of a firm has little bearing on personal career development...