Macquarie completes acquisition of Sal. Oppenheim’s equity derivatives and cash equities businesses

Macquarie Group (“Macquarie”) (ASX: MQG) today announced it has reached financial close of the acquisition of the equity derivatives, cash equities sales and research businesses of German private bank Sal. Oppenheim jr. & Cie.

The acquisitions, announced in December 2009 and February 2010 respectively, significantly enhance Macquarie’s European client offering, strongly complementing its existing presence.  More than 150 people will join Macquarie’s existing EMEA team of 1450 people in 17 offices across 12 countries in the region.

‘’The teams from Sal Oppenheim will be an integral part of Macquarie’s European and global platform,” said Roy Laidlaw, Global Head of Macquarie Securities Group.  ”Clients will benefit from the global reach of Macquarie’s sales and research capability, financial strength and stability and from access to our growing European advisory platform.”

The acquisition will result in Macquarie Securities having 420 staff in the United Kingdom, France, Germany, Switzerland and South Africa. It will expand Macquarie’s equities coverage in Europe to 400 companies, representing approximately 80 per cent of the EuroStoxx 600 Index. 

Derivatives coverage will grow to include market making and issuance operations on exchanges in Germany, Switzerland, and Italy. 

The equity derivatives business, called Macquarie Oppenheim, plans to issue products from Q3 2010.  Macquarie’s commitment to grow the business will benefit clients, along with access to new products which reflect Macquarie’s global scale and sector expertise in areas including commodities, infrastructure and its deep knowledge of Asian markets.