What the hell is Macquarie Bank?
So I have a first round interview coming up (America), and I've been looking over their website, but I still don't get them. I understand that infrastructure is what they are best at, but I don't understand what they are actually doing. They refer to their investment banking group but it sounds like the group is simply advisors to private equity funds that they run (which invest in mainly infrastructure)--or is it not really i-banking at all, but all private equity. Are they basically a private equity group that is publicly traded, or is that simply a big part of what they do?
Also, any other comments on culture/type of work/pay/etc. in New York? Thanks.
Macquarie is the most respected i-bank in Australia (whatever cache that gets them), and has a newly formed PE division; much like JPMorgan Partners etc...
still mainly an i-bank though
But when they talk about buying and selling infrastructure, is that still technichally IB? Are they buying stuff for funds or are their clients also companies and governments?
They're big in both banking and PE in infrastructure. So they will be both brokering infrastructure deals and buying infrastructure assets (they've been big in toll roads) for their own funds. I don't have any inside knowledge, but they've done what look like some very interesting deals in this area.
Macquarie often takes a principal position in the deals. They are unlike the traditional IBs. That said, they do do advisory stuff... but Macq's big guns roll out when they start taking over random bridges, roads, airports or telecommunication companies
Part of a consortium taking over Qantas airline.
Stated above, Macquarie has built a solid reputation over the past few years by buying assets (infrastructure, transportation assets, real estate, telecom, attempt at the LSE, etc.) and pooling the assets into listed funds. The majority of the funds have been listed in Australia, although they've also done a REIT in Singapore too.
The selling point of their funds is a steady long-term yield. An airport or toll road can generate steady 10% yield and the life of these assets is long (i.e. looking at decades). This makes the funds ideal for money managers and pension funds due to the long-term tenor.
Macquarie takes principal positions during acquisition, and profits from both listing the funds and also on-going management fees for the funds.
As far as what to expect, I'd imagine a lot of pricing and valuation of potential acquisitions. Project and Asset finance focuses heavily on future cash flow modeling, which is likely something you should expect.
they also do traditional advisory work too. a recent example is Alinta Gas which of course led to the whole conflict of interest issue.
they are #1 in the M&A league tables in Aus but sometimes I feel they cheat abit because the deals which involved their satellite funds or associated companies are counted in too.
Macquarie - Interested in learning more (Originally Posted: 01/30/2012)
Monkeys and Monkettes-
I have a superday with Macquarie this week, so I'm interested in learning more about this Australian investment bank's North American presence. There hasn't been much talk on this site about Macquarie in the last few years with exception to its 1 or 2 year period of poor bonuses during the crisis. Also, like the BBs, the bank has principal investment capabilities, but I am curious if there's any connection between its advisory and PE investing practices or if the two practices are strictly divided like they are at the BBs.
Thanks!
All i know is that their bonus structure is very bad. Very small presence in the US, but huge in Australia.
don't mean to dampen your interview but macquarie has a very poor reputation...this coming from australia. grads here would take any us/most euro banks over mac, which i often refer to as 'the sinking ship'
it had a solid run in the 90s through infrastructure groups, then this space dried up and essentially the backbone (now with many overheads/attempts to expand to other depts) are hurting
good retail broking presence though, hahaha...ha...ha...
Be sure to bring up their role in the Apollo / CKx leveraged buyout during your interview.
Macquarie IBD (Originally Posted: 08/14/2007)
Anyone familiar with Macquarie's IBD and their recruiting?
Are they as competitive to get into as the BB?
I know they are more into infrastructure, such as roads and highways, but i was just wondering of their street rep.
WAY more competitive than a BB, KILLER street rep
this might be more helpful
http://www.ibankingoasis.com/node/1188
Hi,
I work at Macquarie London within Advisory.
The recruiting is pretty standard. Three rounds; competency interviews initially with HR, followed by psychometric testing, and a final round with executives and senior managers.
Hope that answers your question, but I'm guessing you're interested in the US office...
they do the same shit at goldman london etc - the 'psychometric testing' is something you find in Europe.
Macquarie (USA) (Originally Posted: 10/12/2006)
Any comments on Macquire for the US?
Specifically for the Investment Banking/Corporate Finance part.
Thanks!!
I interviewed with them last year. I didn't like them one bit.
I heard they were growing like gangbusters in New York. Why did you have a bad impression?
I think I read somewhere that they are looking to hire between 30 and 40 analysts in the US this year.
Guys, thanks for your replies.
Nickel3ack, do you think you can explain a little more? Was it the people, or something else you didn't like?
IBankerHopeful, that's pretty much huh? Any particular reason? Do you have any idea if this is just for IBanking or for the other divisions as well?
Thanks!
"Macquarie has an extensive career section on its web site where undergraduates, graduate students and experienced professionals can search for job openings andlearn more about positions at the firm as well as the interview process. In the 2006- 2007 campus recruitment season, Macquarie will be recruiting over 40 analysts across all its business groups."
Also saw a job posting stating the number of openings was 30, that was for an investment banking analyst position.
thanks IBankerHopeful. Are you interested in Macquarie?
I work at a small I-Bank and I am looking to move to a bigger bank and was interested in Macquarie.
Mac is really big in Australia, I heard the US op is quite small and not that good.. i could be wrong though. does anyone hv info on Mac in US?
Macquarie has its base in Australia, decent operations in HK and so-so in North America.
Has probably double in size over the last year. Good place if you are looking for a career. Not necessarily a 2 year stint.
Macquarie - Corporate culture (Originally Posted: 08/22/2013)
Hi there,
Could any of you guys tell me something more about the corporate culture at Macquarie Capital at the moment? How are working hours, how are the people, is promotion hard, how is salary, how are bonuses nowadays?
Thanks in advance!
Did you bother searching for other threads on this subject?
Big name bank in their home market of Australia (#1 or 2 in deal flow). Decent brand name in Asia-ex Japan as their research (along with that of CLSA) is quite differentiated from the rest of the pack. In terms of culture, I hear it is very Australia-centric, so it could drive certain personalities crazy. I've known a lot of people who have gone in/out of the Macquarie door, no one stays that long. Their ECM deal flow outside of ANZ weakened in 2012, but has rebounded in 2013. Overall, a good MM with strong regional brand.
Thank you very much for your comment Red Barchetta.
I have indeed read other posts on this forum but unfortunately most of them are old and therefore no longer applicable.
Do you have any idea how the London office is for MacCap?
NY office recently had quite a bit of turnover, or so I've heard from a friend. Also, they had the rep of giving everyone 10K bonus stubs last year (?), but this hasn't been confirmed. Definitely below-street bonuses, big in Australia and Asia but not so much in the U.S.
No idea on London, but I do know the office there is not as big as their operation in NY.
@Scandal
I met with a couple of their MD's early this year. As you said, they had a LOT of turnover/layoffs in 2012; in fact, one MD thought the bank overdid it & would slowly bring the FO number back up, but I imagine a good part of that would be done by internal transfers or other cheaper means.
Thanks for the vote of confidence Red Barchetta :)
Thank you both :)
Anyone else got some information about the London office?
i had an offer from NYC, turned them down. shitty pay, morale is low and i was not impressed with the other candidates at all.
Macquarie is worse than Piper Jefferies
Lots of Aussies even in the NYC office. Lots of beer on Fridays back when I was there. Good place mate.
can anyone confirm that $10k rumor? I remember hearing that, maybe 2 years back.
Macquarie - Experience with interviews? (Originally Posted: 12/06/2006)
Does anybody have experience with Macquarie interviews? I had the phone interview today and got invited for the in-person session. Also, if you have an idea on comp for analysts with this firm that would be great. Any insight would be helpful. Thanks in advance.
i interviewed with them for the toronto and ny offices. be prepared to show your quant skills when you go into the office. great opportunity to meet quite a few people too. revise public financings and deal structure, thier looking for intuition
Hey what LUPitcher, what technical questions / brain teasers did they ask you? I interviewed with them last month for Europe and got asked 5^4 and a question about golf balls in a room. Also, what office are you interviewing for? Thanks.
Shamrock,
I think that was just like my first round HR conf call with them - exactly, just to be sure you're not a fool or something. At another conf call, HR asked me on how to compute the WACC for their recent (unsucessful) bid for PCCW in HK, as well as "You have 5 or 10 seconds. Say you have a $100 investment growing @ 10% a year; how long will it take you to double your investment?". Their HR seem to be much more keen on technical questions than any other recruiter I've ever talked to, honestly. They'll ask you a lot of brainteasers later on in the process. They're not hard at all, it's just the time pressure they give you who makes it fairly hard.
Rddunfie - Did you make it past the second round in-office interview for toronto to the testing stage? I had thought 2nd round went well, but just never got a call either way.
they flew me out to toronto for the final interview. it was very compact as I had to come out from the westcoast and they didn't want me out their agian for interviews. it went well, somewhat technical, but i found being completely honest with them was the best route when i didn't know the answer to a question. they appeared to respect that, lots of people try to bs their was through, and its aweful. anyways, too bad you didn't make it through, i actually ended up entertaining a different offer, with less leasing!!
I've heard of people having to undergo 4 hour psychometric exams as part of their Macquarie interviews. I'm not sure if they do this for undergrads, though.
Ya, I heard they do these tests as well. From my understanding and the phone interview I had, they do have everyone take this test, obviously in later rounds. I hope I will be taking it....
Fortunately I got another really good offer as well. I am really interested in infrastructure investing (i guess this was not enough haha) and would have loved to work there.
Are you going to be working in Toronto in the fall then?
Monkey, I'm not sure who you were asking that question to. If it was me, I'm focused in the Southern California area. I've yet to have the in person interview, so I have quite a ways to go...
I have been hearing alot about Macquarie in Toronto. Do you feel their largest North American presence is in Canada? They are really expanding internationally, and I am quite impressed with their recent investments.
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