07 April 2010
Macquarie Group (“Macquarie”) (ASX: MQG) today announced it has reached financial close of the acquisition of the equity derivatives, cash equities sales and research businesses of German private bank Sal. Oppenheim jr. & Cie.
The acquisitions, announced in December 2009 and February 2010 respectively, significantly enhance Macquarie’s European client offering, strongly complementing its existing presence. More than 150 people will join Macquarie’s existing EMEA team of 1450 people in 17 offices across 12 countries in the region.
‘’The teams from Sal Oppenheim will be an integral part of Macquarie’s European and global platform,” said Roy Laidlaw, Global Head of Macquarie Securities Group. ”Clients will benefit from the global reach of Macquarie’s sales and research capability, financial strength and stability and from access to our growing European advisory platform.”
The acquisition will result in Macquarie Securities having 420 staff in the United Kingdom, France, Germany, Switzerland and South Africa. It will expand Macquarie’s equities coverage in Europe to 400 companies, representing approximately 80 per cent of the EuroStoxx 600 Index.
Derivatives coverage will grow to include market making and issuance operations on exchanges in Germany, Switzerland, and Italy.
The equity derivatives business, called Macquarie Oppenheim, plans to issue products from Q3 2010. Macquarie’s commitment to grow the business will benefit clients, along with access to new products which reflect Macquarie’s global scale and sector expertise in areas including commodities, infrastructure and its deep knowledge of Asian markets.
Macquarie Group (Macquarie) is a global provider of banking, financial, advisory, investment and funds management services. Macquarie’s main business focus is making returns by providing a diversified range of services to clients. Macquarie acts globally on behalf of institutional, corporate and retail clients and counterparties. Founded in 1969, Macquarie operates in more than 70 office locations in 28 countries. Macquarie employs approximately 14,400 people and has assets under management of approximately £180 billion (€210 billion) at 31 December 2009
Macquarie Securities Group has the 8th largest equities research platform in the world, covering more than 2200 stocks. It has teams located in the major financial markets around the world, providing clients with specialist capabilities in equity underwriting, equity sales and trading, equities research and corporate broking and is consistently ranked highly for its research, sales and execution. Globally, Macquarie Securities has more than 350 equity research analysts and more than 400 sales and trading professionals serving 1700 institutional clients, with membership of 23 exchanges and distribution capability into 26 financial centres. Macquarie Securities is also a leading provider of listed and OTC structured products to both retail and institutional investors across Asia.
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