Macquarie to combine two of its capital markets businesses

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Macquarie Group will combine two of its three capital-markets businesses as the investment bank seeks to bring its trading activities under one roof.

Bloomberg News reports that 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 Tuesday.

The firm led by CEO 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 earlier this year eliminated around 30 positions at its equities unit in the region. While there are no plans for imminent job cuts in the new unit, headcount reductions could come from natural attrition, a person familiar with the matter said.

The world’s largest infrastructure manager, which has seen its profit almost treble since 2012, is now starting to face headwinds. 

To access the complete Bloomberg News article hit the link below:

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