Macquarie downgrades profit forecast as rainmaker departs
The bank concedes it will be tough to match last year’s record A$5.2b profit.
Profits in the market’s facing businesses are expected to be substantially lower.
A Macquarie Group banker who earned more than the company’s chief executive last year has unexpectedly left the company, contributing to a sharp fall in Macquarie shares on a day the wider ASX moved higher.
Nicholas O’Kane, who earned A$58m in 2023 as head of the commodities and global markets
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