Macquarie Group (ASX: MQG) is Australia’s largest investment bank with operations spread throughout North America, Europe, Middle East, Asia and Australia. Unlike a traditional ‘retail’ bank, like most investment banks Macquarie makes a large chunk of its profit by operating in the investment markets and managing ‘assets’ for individuals and organisations. As of 2018, Macquarie had reported a profit for 49 years in a row.
The S&P/ASX 200 (ASX: XJO) is expected to trade higher today with the Sydney Futures Exchange pointing to a positive open. Challenger Ltd (ASX: CGF) and Macuarie Group Ltd (ASX: MQG) have updated the market.