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RMG is experienced at applying risk management principles to changing business mix

  • Macquarie’s mix of businesses have always evolved and changed

    • 40% of income comes from businesses that didn’t exist 5 years ago1

    • Macquarie has a track record of integrating businesses including:

      • BT Australia (1999), ING Asia (2004), Macquarie Cook Energy (2005), Constellation (2009)

  • Current changes to the business mix include:

    • Increased corporate lending; expanded leasing activities (e.g. aircraft); expanded funds management activities (e.g. Delaware); new trading markets (e.g. FICC Asian Markets) and new business structures (e.g. Debt Capital Markets)

  • RMG is heavily involved in new acquisitions

    • Assessment of risks: The risks of acquisitions are identified as part of the new business approval process, and managed effectively through integration projects

    • Planning for implementation: For each acquisition, there is an appropriate plan to roll out the risk management framework

    • ‘Risk culture’ transfer: Integration emphasises the transfer of Macquarie’s risk culture to new businesses

  • Post-acquisition audit: a post-acquisition review of operations is conducted by Internal Audit within 6 to 12 months

1. Noted in the 2009 Annual General Meeting Presentation.

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