(Reuters) – Australia’s Macquarie is set to shutter its U.S. debt capital markets arm, as it plans to focus its resources on private credit, Bloomberg News reported on Wednesday, citing unnamed sources with knowledge of the matter.
Bloomberg said the move would impact roughly 80 jobs, with some of the affected employees transitioning to new roles, while others leaving the company.
The change was communicated during a town hall meeting, the sources added, with Macquarie planning to sell positions it amassed through U.S. debt capital markets activities over the next two years.
The company, in an emailed response to Reuters, said it is aware of the reports and has “nothing to add”.
Macquarie, Australia’s largest asset manager, generates revenue through infrastructure ownership, commodity trading in sectors like oil and gas, managing capital raisings for other companies, and offering home loans in its domestic market.
(Reporting by Shivangi Lahiri in Bengaluru, Additional reporting by Roshan Thomas; Editing by Vijay Kishore)
Comments