After completing two internships with Macquarie, Commerce and Law Graduate Tiffany Wu joined Macquarie Capital’s Equity Capital Markets team in 2019. Tiffany describes her time on Macquarie’s Graduate Program as a “phenomenal experience”, that saw her involved in raising billions in capital for Macquarie Capital’s clients during COVID-19.
Tiffany Wu studied a Bachelor of Law and Commerce at The University of Sydney, and undertook several internships in both law and politics. But her love of maths drew her towards banking and finance, so she changed paths and instead began pursuing internships at finance organisations. Out of all the internships she completed, Macquarie stood out.
“I was attracted to Macquarie because of the people and the culture,” Tiffany says. “It was inspiring to see so many smart women at the top levels of management making decisions in Macquarie Capital. I’ve found that the organisation is very supportive of diversity in all its forms.”
Tiffany finished two different internships with Macquarie.
The first was the 2017 Winter Development Program, aimed at STEM graduates and women wanting to enter the financial services industry. It was a three week taster that saw Tiffany work in Macquarie Capital’s Industrials team. She enjoyed it so much she returned later that year for the 12-week Summer Internship Program in the Equity Capital Markets team.
“The Summer Internship Program allowed me to take on more responsibility,” Tiffany explains. “Within the first few weeks of the internship I was analysing the markets to produce information for clients alongside Macquarie’s senior leaders.”
In 2019, Tiffany then joined Macquarie Capital as an Analyst on the Graduate Program.
“My two years as a grad have been an incredible experience,” Tiffany says. “I’ve played a part in my team completing several large equity raisings to allow major ASX companies access to capital. One deal alone was worth $A3 billion and we achieved this while working from home during COVID under difficult market conditions.”
Tiffany says she was fortunate to be able to spend time in Investor Relations, within Macquarie’s Financial Management Group, as one of her rotations.
“Investor Relations has some overlap with Equity Capital Markets,” she explains. “I helped work on Macquarie’s 2020 Operational Briefing. Macquarie Capital is just one part of the organisation so it was amazing to see its central operations and how Macquarie’s different teams work together.”
Tiffany is currently working in Equity Capital Markets. A typical day starts by following the news to keep a handle on any potential impact to the markets, different industry sectors and clients.
Overall, Tiffany says her job entails helping Macquarie Capital’s clients tell the right story about why they want to raise the capital, and then bringing that capital to them.
“We work on how to present the equity story from the client, right through to the legal and offer documents and the execution of the raising.”
She helps with IPOs, liaises with clients, drafts prospectuses and works on presentations for equity raisings. There’s also collaboration with other Macquarie Capital teams, from Tech to Industrials, Finance and Real Estate, on marketing packs or understanding investor interests.
“The work is wide ranging and fast paced,” says Tiffany. “It’s not your typical nine-to-five, and the networking and social aspect is an enjoyable and important part of the job too”.
Tiffany says her time as a grad has been a learning curve that has given her experience and confidence.
“I always wanted to do something that would impact people and allow them to develop for the better,” Tiffany says. “I like the big picture strategy and being able to think creatively.”
She says that completing a successful deal with a client gives her enormous satisfaction.
“After all the hard work it’s amazing to see the client happy with the result and able to continue with their business strategy,” Tiffany says. “I really enjoy meeting different people across various companies and industries.”
“Macquarie is a large organisation so every day I’m still learning about some part of it that I didn’t know about, as my network grows,” Tiffany explains. “But it’s a welcoming environment, and everyone’s role and opinions are valued.”
While she felt shy at first, she says her team pushed her to speak up and challenge her own abilities.
“Macquarie’s culture is very flat, which encourages people to feel confident in their own skills, and to use that to deliver excellent results.”
Tiffany says Macquarie's genuine flexibility and diversity combined with its large scale result in a multitude of opportunities and that this encourages people to stay in their careers long term.
“I definitely made the right choice to be here,” Tiffany says. “It’s a fantastic place to work.”
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