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Macquarie to merge two of its three capital-markets businesses

Published Tue, Nov 29, 2016 · 09:50 PM
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Sydney

MACQUARIE Group Ltd will combine two of its three capital-markets businesses as Australia's biggest investment bank seeks to bring its trading activities under one roof.

The securities firm cited the desire to streamline operations and provide clients with an integrated service across global markets as the motivation for the merger, along with "industry changes", according to a statement released on Tuesday.

The firm led by chief executive officer Nicholas Moore is becoming more cautious about the outlook for its cyclical businesses. In 2015, it cut around half of its investment-banking workforce in Asia and …

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