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Mac CEO to retire

Mac CEO to retire

(11 February 2008 – Australia) Macquarie Group has announced that 15 year CEO Allan Moss will retire on 24 May 2008, shortly after delivering the company's annual results. Current head of Macquarie Capital, Nicholas Moore, has been appointed Moss’ successor, as Managing Director and Chief Executive Officer of the group.

Chairman David Clarke said that Moore was the obvious choice, after being in charge of the business that provides more than half of group wide profit.

Moss commented that he felt that it was the right time to hand over, although it was a difficult decision.

Macquarie Capital includes Macquarie’s infrastructure funds, corporate advisory, institutional stock broking, equity capital markets and a number of other businesses.

Under Moss, Macquarie has changed from an almost entirely domestic business to one earning a majority of its income outside Australia.

If the group achieves the expected profit of at least $A1.8 billion for the year ending March 2008, profits will have grown thirty-fold during Moss’ term as CEO.
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