MACQUARIE BANK: A STRANGER HITS TOWN
When Broken Hill Proprietary (BHP), Australia's biggest
company, called in Macquarie Bank to help to save it from the clutches
of takeover king Robert Holmes a Court, the reaction from many senior
financiers in London and New York was -- what is Macquarie Bank?
That some leading bankers on both sides of the Atlantic had not
heard of BHP's chosen advisers is not as surprising as it seems.
When BHP announced Macquarie's appointment, just over seven months
ago, the bank had yet to celebrate its first birthday.
Macquarie Bank came into being in February 1985 after
Australia's Treasurer Paul Keating decided to deregulate the
country's domestic banking system. In the 18 months since then,
Macquarie has established itself in the top flight of banks operating in
Australia. It is already among the market leaders in corporate services
such as mergers and acquisitions advice, foreign exchange transactions
and...
