Press Release

Macquarie Group appoints Kalpana Desai as Deputy Head of Asia for Macquarie Capital Advisers

Hong Kong, 16 September 2009

Macquarie Group (Macquarie, ASX:MQG) today announced the appointment of veteran Asian banker Kalpana Desai as Deputy Head of Asia for Macquarie Capital Advisers, reporting to Andrew Low, Macquarie Capital's Head of Asia.

"We've been delighted with the strong growth of Macquarie's business in Asia over the last few years and Kalpana's extensive experience in M&A, her leadership skills and deep knowledge of all the major Asian markets will help us to maintain this strong momentum," said Mr Low.

Ms Desai has more than 20 years of investment banking experience during which she has held a number of senior positions for leading global investment banks both in London and Hong Kong. Most recently, Ms Desai was a senior Managing Director and Head of Asia-Pacific Mergers & Acquisitions for Merrill Lynch. Ms Desai will be based in Hong Kong.

"I am delighted to be joining Macquarie, a leading, highly reputable and innovative financial services group that I have always held in the highest regard," said Ms. Desai. "I look forward to working with the team to continue to grow the already strong regional and global platform."

Ms Desai is one of the most experienced deal makers in Asia having advised on some of the most complex and high profile mergers and acquisitions and equity transactions of the past decade, including the sale of Hongkong Telecom for $US38.3 billion ($A44.5 billion) to PCCW and the $US5.4 billion purchase of Overseas Union Bank by United Overseas Bank, the largest takeover deals ever in Hong Kong and Singapore, respectively.

Ms Desai has also advised on some of the most successful cross-border deals out of mainland China, including Lenovo's purchase of IBM's personal computer business and the strategic partnership between Cathay Pacific and Air China.

Macquarie was the top underwriter of IPO's in Hong Kong in 2008 having lead managed three of the five largest initial public offerings by Chinese companies in the city. Macquarie last month announced it established a trust company joint venture in China together with Beijing Sanjili Energy Company Limited and Beijing Rongda Investment Limited that will allow it to offer RMB-denominated products and arrange domestic debt and equity financing. Macquarie also recently set up a joint venture company with China Everbright Limited that aims to establish two funds to invest in infrastructure businesses in Greater China with a focus on core infrastructure.

Macquarie Capital comprises Macquarie's corporate advisory and equity underwriting businesses collectively called Macquarie Capital Advisers, and the group's specialised funds management businesses called Macquarie Capital Funds.


Disclaimer: Macquarie Bank Limited ABN 46 008 583 542 is authorized by The Australian Prudential Regulation Authority in the Commonwealth of Australia and The Financial Services Authority in the United Kingdom, to carry out banking business or to accept deposits in those respective jurisdictions. Macquarie Bank Limited and its holding companies including their subsidiaries or related companies (the Macquarie Group) are not otherwise currently authorised to carry out banking business or to accept deposits in any other country.


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