Sydney, 29 November 2016
Macquarie Group (Macquarie) today announced the merger of two of its three capital markets facing businesses: Macquarie Securities Group (MSG) and the Commodities and Financial Markets Group (CFM).
CFM Group Head, Mr Andrew Downe, will become Group Head of the newly formed Commodities and Global Markets Group (CGM). MSG Head, Mr Stevan Vrcelj, will step down from his current role and from the Executive Committee. Mr Vrcelj will assist Mr Downe with the integration of the two groups over the coming months.
Macquarie Group Managing Director and Chief Executive Officer, Mr Nicholas Moore, said that Mr Vrcelj had been an outstanding leader of MSG in a period marked by challenging market conditions and significant structural change in the securities industry. Mr Vrcelj has led MSG since 2011 and has been a member of Macquarie's Executive Committee since 2010.
Mr Moore said industry changes, client commitment and the opportunity to provide clients with an integrated, end to end service across global markets prompted the merger. The integration brings together our highly regarded execution, research, derivatives, trading, fixed income, foreign exchange and commodities businesses.
Mr Downe said the securities business is a world class equities platform operating in 19 countries and comprising a leading business in the Asia Pacific and an evolving footprint in EMEA and North America. CFM is also a global business providing financing, financial hedging, physical execution and access to market pricing for clients exposed to commodities and financial markets including energy; metals, mining and agriculture; fixed income and currencies; credit and futures.