Macquarie announces to change its name to Macquarie Technology Group Limited (2024)

April 18 2023, by Macquarie Technology Group | Category: Technology Group

Macquarie Technology Group (ASX: MAQ) today announced that it intends to change its listed company name to Macquarie Technology Group, reflecting the company’s evolution to become a digital infrastructure business through its success in cloud infrastructure, cyber security, data centres, and telecom.

Recognising that the successful execution of Macquarie’s strategy has fundamentally changed the company over the last decade to a core plus digital infrastructure business, Macquarie will be applying to move from the S&P index “Diversified Telecom Services” to “Internet Services & Infrastructure”.

Macquarie’s strategy has delivered seven consecutive years of EBITDA profit growth and its share price has increased by over 500% during this period with its market capitalisation now exceeding $1 billion.

“We are still Macquarie, a proudly Australian company, driven by our purpose to make a difference in markets that are underserved and overcharged. Macquarie‘s world class NPS score of +79 is a testament to the customer experience we deliver for businesses and government agencies,” said Chief Executive David Tudehope.

“As our customers turn to cloud-based solutions, they value our single accountability for cyber security, cloud performance and secure world scale data centres,” he said. “Our four businesses’ names are unchanged as they reflect what they do – Macquarie Cloud Services, Macquarie Government, Macquarie Data Centres and, where our story proudly started, Macquarie Telecom.”

Macquarie’s current customer base includes the Australian Tax Office, BPAY, Officeworks, and two of the world’s three largest cloud companies.

The Extraordinary General Meeting will be held at 10am on Monday 22nd May 2023 to seek approval to change our name to Macquarie Technology Group Limited. Subject to shareholder approval the new name will be effective from June 2023.

Macquarie announces to change its name to Macquarie Technology Group Limited (2024)

FAQs

Is Macquarie Telecom part of Macquarie Group? ›

Macquarie Technology Group Limited (ASX: MAQ) (Previously Macquarie Telecom Group) is an Australian cloud, data centre, government cyber security and telecom company, with offices in Sydney, Melbourne, Canberra, Brisbane and Perth.

Who is Macquarie Bank owned by? ›

Our Australian bank subsidiary, Macquarie Bank Limited (MBL), is an indirect wholly owned subsidiary of Macquarie Group Limited (MGL) and is governed by the MBL Board. The MBL Board is comprised of Independent Directors, the MGL CEO and the MBL Managing Director and Chief Executive Officer.

Who is the founder of Macquarie group? ›

Macquarie was founded on 10 December 1969 as Hill Samuel Australia Limited, a subsidiary of the UK's Hill Samuel & Co. Limited. Australian businessman Stan Owens compiled a proposal for Hill Samuel & Co. to establish an Australian subsidiary.

What was the former name of the Macquarie Group? ›

On 10 December 1969, Macquarie's predecessor organisation, Hill Samuel Australia, opened its doors with three staff and an ambition to provide advisory and investment banking services of an international standard to the Australian market.

What is the official name of Macquarie? ›

Macquarie Group refers to Macquarie Group Limited and its subsidiaries and affiliates worldwide.

What is the Macquarie bank scandal? ›

ASIC alleges that from 1 May 2016 to 15 January 2020, Macquarie failed to take measures to prevent or detect transactions made using its bulk transacting system that were outside the scope of a 'fee authority' given by a customer, including misappropriating, and attempts to misappropriate, customer funds.

Who are the largest shareholders of Macquarie Bank? ›

Shareholders
NameEquities%
State Street Global Advisors Trust Co. 1.059 %4,055,6711.059 %
Shemara Wikramanayake 0.8293 %3,175,8970.8293 %
Argo Investments Ltd. (Investment Management) 0.6825 %2,613,9050.6825 %
Australian Foundation Investment Co. Ltd. (Invt Mgmt) 0.5847 %2,239,3250.5847 %
6 more rows

Who are the top shareholders of Macquarie Group? ›

Institutional shareholders
HolderShares% Held
State Street Global Advisors, Australia, Ltd.as of 19 Mar 202414.52m3.79%
The Vanguard Group, Inc.as of 05 Apr 202412.61m3.29%
Vanguard Investments Australia Ltd.as of 31 Mar 20246.77m1.77%
BlackRock Fund Advisorsas of 04 Apr 20246.54m1.71%
3 more rows

Is Macquarie Group prestigious? ›

Macquarie Group (U.S.)

Macquarie is an investment banking powerhouse with Australian roots. The firm is a top-ranked M&A advisor and one of the world's leading infrastructure and renewables asset managers.

What is the reputation of Macquarie group? ›

Macquarie Group (ASX:MQG) has a reputation as the 'millionaire's factory', and it did not just develop it by accident. Despite it being a relatively young bank compared to the Big Four, it has grown into a company worth over $66bn.

What is the Macquarie Group famous for? ›

Macquarie is a global financial services group operating in 34 markets in asset management, retail and business banking, wealth management, leasing and asset financing, market access, commodity trading, renewables development, specialist advice, access to capital and principal investment.

Does Macquarie pay well? ›

As of Apr 20, 2024, the average annual pay for the Macquarie jobs category in the United States is $85,669 a year.

Why is Macquarie called the Millionaire Factory? ›

Indeed, only around 25% of Macquarie's business is now based in Australia. The 'millionaires' factory' nickname came about not because it made millions for its clients, who were usually high net worth individuals to begin with, but because of the extraordinary salaries and bonuses it paid to its staff.

Is Macquarie a good company to work for? ›

Macquarie Group has an employee rating of 3.9 out of 5 stars, based on 3,805 company reviews on Glassdoor which indicates that most employees have a good working experience there.

How big is Macquarie telecom? ›

The company employs approximately 450 people and has operations in Australia and Singapore.

Who is the management team of Macquarie telecom? ›

Macquarie Telecom Group employs 651 employees. The Macquarie Telecom Group management team includes Helen Cox (Chief Financial Officer), Colin Adams (Head of IT Architecture), and Michael Davies (Business Advisor and Shareholder).

What is Macquarie Group famous for? ›

Macquarie is a global financial services group operating in 34 markets in asset management, retail and business banking, wealth management, leasing and asset financing, market access, commodity trading, renewables development, specialist advice, access to capital and principal investment.

Who owns Macquarie Pastoral Fund? ›

Paraway Pastoral Company Limited is a wholly owned operating entity of an agricultural fund managed by Macquarie Agricultural Funds Management Limited, which forms part of Macquarie Asset Management, a division of Macquarie Group Limited.

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