Macquarie's approach to governance, which has remained largely consistent over time, is to promote the long term profitability of Macquarie, drive superior and sustainable shareholder value and long term prosperity, and meet stakeholder expectations of sound corporate governance.
Members of the Board and staff are responsible for upholding the goals and values to which Macquarie aspires.
Macquarie's corporate governance framework has developed to support Macquarie's client focused business operations while providing clear guidance on how authority is exercised within Macquarie, including Board oversight of key controls. The Board, with the assistance of the Board Committees, determines the most appropriate corporate governance practices.
Macquarie Group Limited is listed on the Australian Securities Exchange (ASX) and is regulated by the Australian prudential regulator, APRA, as a non-operating holding company of a licensed Australian bank, Macquarie Bank Limited. Macquarie is also supervised by the Australian corporate regulator, ASIC. A number of Macquarie's key operating subsidiaries are supervised by regulators in the overseas jurisdiction in which they operate.
While Macquarie's board and board committee structure has remained largely consistent over time, board delegations and board / committee charters are regularly reviewed. Macquarie’s remuneration system, which has progressively evolved over time, has been designed to balance risk and return. Macquarie’s risk management framework is well established and proven.
Macquarie monitors regulatory and corporate governance developments that impact on Macquarie's businesses, adopting sound corporate governance practices.
Macquarie's corporate governance framework and associated practices are described in the Corporate Governance Statement in Macquarie's Annual Report.
A link to this description and related corporate governance information is available below: