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Macquarie warns of ‘uncertain’ economic recovery – The Australian Financial Review

In an update on its business performance ahead of its annual general meeting on Thursday, Macquarie Group revealed its first quarter performance has fallen slightly compared to the same time last year, as valuations slide and merger activity slows.

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Macquarie said 13 per cent of its banking and finance clients were accessing support at the end of June.
In the markets businesses, clients seeking out hedging and trading opportunities on Macquarie’s commodities platform have boosted earnings, along with clients seeking to rebalance portfolios to manage risk in the volatile environment.
Macquarie Capital suffered a fall in fee revenue as merger and acquisitions slowed, “with challenging markets expected to reduce the number of successful tran…

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