Millionaire’s factory in the spotlight as concern mounts

In Australia, Macquarie Bank is known as the “millionaires factory” for good reason.

In the past 10 years, it has come from nowhere to become one of the world’s most aggressive buyers of airports, toll roads, energy firms and utilities. If an asset has a reliable cash flow, Macquarie, it seems, has pounced.

In so doing, the Sydney-based bank has left better-known institutions trailing in the dash to seize valuable prizes.

The rewards for being a “diversified financial services company”, as Macquarie likes to style itself, are immense. Allan Moss, its bookish chief executive, is Australia’s highest paid businessman with a $38.4 million package.

Read more

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s