Financial Institutions
Industry overview
Macquarie Capital's Financial Institutions team combines our specialist financial expertise and experience with a dedicated focus on companies in the banking, wealth management, securities, insurance and other financial industries.
Our specialization along industry lines has enabled us to develop a deep understanding of our clients' businesses as well as the issues and challenges they face.
This specialization allows us to assist our clients with advice on mergers and acquisitions, debt and equity underwriting and research, initial public offerings, structuring, and strategic and capital management.
We also have extensive relationships with the governmental and regulatory bodies with authority over financial industries in the jurisdictions in which we operate, and various financial industry groups.
In November 2009, Macquarie Capital completed the acquisition of Fox-Pitt Kelton Cochran Caronia Waller, a global investment bank with a specialist focus on financial institutions in Europe and North America. Combined with our strong Asia-Pacific franchise, the acquisition expanded our presence of specialized financial institutions advisory, ECM and research professionals to 11 offices globally.
Financial Institutions team global coverage
Key transactions
| Year | Description | Transaction Value |
|---|---|---|
| Local | ||
| 2011 | Financial advisor to The Doctors Company on the acquisition of FPIC Insurance Group, Inc. | $US350m |
| 2011 | Financial advisor to Zenith Administrators Inc. on the sale to HealthPlan Holdings | Undisclosed |
| 2011 | Joint bookrunner on American International Group's follow-on offering | $US8.7bn |
| 2011 | Joint bookrunner on a senior unsecured notes issuance for International Lease Finance Corporation | $US2.25bn |
| 2011 | Co-placement agent to Cascade Bancorp in a capital raise | $US177m |
| 2011 | Financial advisor to First Investor Consolidated Corporation on its sale to Foresters | Undisclosed |
| 2010 | Financial advisor to American Physicians Service Group, Inc. on the sale to ProAssurance Corporation | $US233m |
| 2010 | Co-manager on a Radian Group senior convertible notes offering | $US450m |
| 2010 | Financial advisor to The Doctors Company on the acquisition of American Physicians Capital, Inc. | $US396m |
| 2010 | Financial advisor to Old Republic International Corporation on its acquisition of PMA Capital Corporation | $US228m |
| 2010 | Sole bookrunner on a marketed follow-on offering for Tennessee Commerce Bancorp, Inc. | $US26m |
| 2010 | Joint bookrunner for First Commonwealth Financial Corporation’s common equity follow-on offering | $US86m |
| 2010 | Financial advisor to London-based Cooper Gay (Holdings) Ltd in its combination with Atlanta-based Swett & Crawford Group Inc. to create a $US3.5 billion independent broker | Undisclosed |
| 2010 | Financial advisor to UniGroup, Inc. on the sale of its moving and storage insurance subsidiary, Vanliner Insurance Company, to National Interstate Corporation | $US128m |
| 2010 | Joint bookrunner and sole structuring agent on a preferred shares offering by Zions Bancorporation | $US143m |
| 2010 | Financial advisor to Colemont Insurance Brokers in its merger with AmWINS Group | Undisclosed |
| 2009 | Sole manager on Texas Capital Bancshares, Inc.’s common stock offering | $US55m |
| 2009 | Joint bookrunner for Hudson Valley’s follow-on offering | $US100m |
| 2009 | Sole bookrunner and placement agent on First Busey’s follow-on and PIPE offering | $US122m |
| 2009 | Sole placement agent on a $US15 million PIPE and co-manager on Seacoast Banking Corporation of Florida’s $US76 million underwriting offer | $US91m |
| 2008 | Advisor to Bank of America on its acquisition of Merrill Lynch | $US44.3bn |
| Global | ||
| 2010 | Joint bookrunner to Burford Capital on its follow-on offering | $US175m |
| 2010 | Joint bookrunner, sponsor and lead arranger to Agricultural Bank of China on its follow-on offering | $US22.5bn |
| 2010 | Co-manager to AIA on its IPO of public stock | $US20.5bn |
| 2010 | Bookrunner to BNI on its follow-on offering | $US152m |
| 2009 | Co-lead manager and underwriter on the Lloyds Banking Group rights issue | ₤13.5bn |
| 2009 | Joint bookrunner to Commonwealth Bank on its convertible bond offering | $US1.8bn |
| 2009 | Equity underwriter to ANZ on their issue of convertible preference shares | $A1.1bn |
| 2009 | Equity underwriter to Genworth MI on its IPO of common stock | $A1.1bn |
| 2009 | Equity arranger to Macquarie Group on its placement of ordinary shares | $A540m |
| 2009 | Equity underwriter, arranger and broker to QBE on their accelerated institutional equity placement | $A2bn |
| 2009 | Advisor to Macquarie Investment Lending on the sale of its margin lending portfolio to Leveraged Equities, a wholly owned subsidiary of Bendingo and Adelaide Bank | $A1.6bn |
| 2009 | Joint bookrunner and joint lead manager for the H-share IPO of China Minsheng Banking Corporation | $US4bn |
| 2009 | Advisor to PT Bank Mestika Benua Mas in relation to the sale of its controlling stake in Bank Mestika Dharma to RHB Capital *pending close* | $US369m |
| 2009 | Advisor to Yingda Taihe Life Insurance Company, a subsidiary of State Grid Corporation of China, in relation to the introduction of a foreign strategic investor | $US94m |
| 2009 | Advisor to Tokio Marine on its acquisition of Philadelphia Financial | $US4.7bn |