|Day's range||59.28 - 59.28|
|52-week range||59.28 - 59.28|
|PE ratio (TTM)||N/A|
|Dividend & yield||N/A (N/A)|
|1y target est||N/A|
Macquarie Group, Australia's leading investment bank, has a hole to fill. In the years after the global financial crisis, the bank's Corporate and Asset Finance (CAF) unit - an opaque business analysts call a "black box" - accounted for almost a third of Macquarie's earnings, driving growth fueled by a A$33 billion ($26.18 billion)-plus bet on largely non-investment grade debt.
Mark Minchin (of Minchin Moore Private Wealth Advisers) was working in the private wealth division of Macquarie Group when the global financial crisis struck in 2008. “There was an enormous number of lessons about dealing with the trauma of losing money and how to best manage through those times, with how people react to the events, and counselling them through that.” Fast forward to 2017, and the bigger challenge for the chartered accountant-turned certified financial planner is protecting his clients from any similar fallout in the future. “I want to make sure I have done everything that is prudent to minimise the damage and calculate the risk they are taking versus the rewards that they get,” Minchin says.
The world's second-largest economy seeks stability in the face of a darkening global outlook