Published 17 November 2005
I had to borrow this one from The Sheet, Ian Rogers’ banking industry newsletter & website out of Melbourne, with a piece on Macquarie Bank’s result announcement: “Asked at yesterday’s media briefing whether the bank would call itself an investment bank or a fund manager these days, Macquarie’s managing director Allan Moss said, â€˜We don’t practically think in those terms. We try not to think in terms of labels. The problem with labels is that if you start to try to define your business in terms of what other people do, you end up doing what other people have already done.
“We prefer to try and do what other people haven’t done, even though it makes the label challenging at times.'”
As for the result itself, I managed to take my eye off the returns in the banking industry for several years. Getting my eye back on banking & finance is one of the tasks for the website in 2006.
Website: The Sheet