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.
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