The Fin A 'strike' at the heart of the millionaires' factory
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Aug 6, 2025 Jemima Whyte, a senior reporter at The Australian Financial Review, and Joyce Moullakis, an associate editor at the same outlet, dive into the tumult at Macquarie Bank. They discuss the bank's struggle with executive pay and investor dissatisfaction amid increasing scrutiny and a controversial AGM. Speculation about leadership succession arises while the impact of a recent remuneration strike on company culture and employee morale is examined. The conversation highlights the challenges of balancing growth with accountability in an ever-competitive financial landscape.
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Macquarie's Pay Model Is Core
- Macquarie's success hinges on its unique remuneration model rewarding entrepreneurial staff.
- Investor dissent on pay signals risks to the bank's core DNA and performance magic.
AGM Tense Over Executive Pay
- Macquarie's recent AGM featured tough questioning on pay, regulators, and succession.
- Investors narrowly voted down the executive remuneration plan, a first 'strike' against the firm.
Infrastructure Fueled Macquarie's Rise
- Macquarie grew from a small Australian unit to a global powerhouse via infrastructure assets.
- Their early focus on infrastructure made them globally renowned and a company of stature.