These are trying times for Macquarie Bank.
billion Qantas takeover battle.
snubbed by Alinta, the company it once intimately advised, in Babcock Brown.
top executives too much.
Macquarie finally outgrown its birthplace?
March 31 tomorrow and the brilliance of the bottom line will, as usual, be overshadowed on the street by the technicolour executive remuneration details it also discloses.
The profit will certainly be good. At the halfway mark earnings were up 51 per cent to $730 million, which was 80 per cent of the previous year.
the second half last year, and since then the bull market has roared onward and upward.
tomorrow morning, with brokers tipping a surplus of about $1.4 until 1997.
Even so, the pay that chief executive Allan Moss and his senior colleagues draw for the year will be very difficult to ignore, profits produce rising pay.
In the year to March 2006, Moss's remuneration was a received between $10 million and $20 million each.
This year, there is speculation that Moss's package could carry him close to $30 million.
A year ago, the Treasurer was asked about Allan Moss's pay and kind of salary.
"
No doubt Peter Costello will be asked to comment again, in a market's roof rafters.
Whether or not they talk about it tomorrow, the environment here When the bank was brash and rising, it was viewed as a national champion, but these days it is generating more negative than positive publicity.
success, and the way Macquarie rewards itself for it, and partly a bank deploys.
But it is also related to the fact that Macquarie is running out of targets. Its size is forcing it remorselessly towards larger and larger deals, and in this country there is a limited supply of them - and the easy ones are done.
classic example but it is in the weave of Alinta and other deals, too.
What can Moss and his colleagues do about this?
On one level, nothing at all. Macquarie chases deals around the 44 per cent of total income and grew strongly, with income from the Americas surging 121 per cent, and Asia-Pacific income rising 40 overseas income was a key driver, so it's likely that the rest of structure.
At the same time, however, the group is understood to have quietly applied for a banking licence in Britain.
That doesn't mean it's making secret plans to relocate.
executives reported in February, for example, that Macquarie had decided to seek banking licences in Singapore and South Africa.
Australian.
As time goes on, an increasingly large share of its income will come from deals constructed overseas.
Some of them, like Macquarie's unsuccessful 2006 tilt at the London Stock Exchange, will be controversial.
enough for a company of Macquarie's size to graze quite peacefully, here.
had also not gravitated to where the money is?
He's a bona fide Hollywood star, and Steven Spielberg and Brad Pitt are among his fans, but what Eric Bana treasures most is his life as a suburban dad.
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