Mac group makes new acquisition
(8 February 2010 – Europe) Macquarie Group has announced the purchase of the German bank Sal Oppenheim’s cash equity sales and research business.
The acquisition is part of the group’s plans to increase their presence in key European markets and expand its investment banking operations.
Macquarie made a separate agreement with the German banking operation in December to acquire its equity derivatives and structured products business, adding over 90 staff to Macquarie’s team.
In the most recent agreement, the cash equities business being acquired comprises of equities research, sales and trading, and execution functions of continental Europe, as part of the deal a further 50 staff will be joining the bank.
Executive director and head of Macquarie’s cash equities business in Europe, Alan Watson, commented that the transaction is a logical step in the evolution of Macquarie’s equities business as it expands the bank’s coverage into continental Europe.
Both parties of the group have agreed not to disclose any further information about the deal.
Macquarie made a separate agreement with the German banking operation in December to acquire its equity derivatives and structured products business, adding over 90 staff to Macquarie’s team.
In the most recent agreement, the cash equities business being acquired comprises of equities research, sales and trading, and execution functions of continental Europe, as part of the deal a further 50 staff will be joining the bank.
Executive director and head of Macquarie’s cash equities business in Europe, Alan Watson, commented that the transaction is a logical step in the evolution of Macquarie’s equities business as it expands the bank’s coverage into continental Europe.
Both parties of the group have agreed not to disclose any further information about the deal.
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