Brian Hartzer

Macquarie Capital is pleased to have advised Telstra on entering into a strategic partnership with Infosys through Telstra’s divestment of a 75% stake in Versent Group. The transaction will enable Telstra and Infosys to refer and leverage each other’s offerings and furthers Telstra’s ‘Connected Future 30’ strategy of focusing on core connectivity. Completion of the transaction is subject to regulatory approvals, employee consultation and other conditions.

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Macquarie Bank has joined BioCatch Trust™ Australia, further amplifying the power of this inter-bank, behavior- and device-based, real-time fraud and scams intelligence-sharing network. With Macquarie Bank on board, the network now protects more than 85% of Australia’s online banking population from fraud, scams, and financial crime. Read the complete announcement here: https://okt.to/R0X5Y6 #FinancialCrime #FraudPrevention #BankingIndustry

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Australia is on track to become more tightly regulated than the UK and Europe - and a lot less competitive. https://lnkd.in/g9Kcssw3 The proposed changes to interchange fees risk cutting off access to credit, weakening competition, and stalling progress. Consumers and small business could be hit hardest, facing less access and fewer options for credit, higher costs, and less support from the local players driving security and innovation in payments.

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The energy and curiosity that new talent brings is always invigorating. We recently welcomed a group of new joiners to Macquarie Bank's Digital, Data, Design and Engineering team and it was a great opportunity to discuss the skills that will define the next era of work in an increasingly AI-augmented world. While AI will undoubtedly reshape many activities, my genuine belief is that it elevates the importance of our uniquely human capabilities. Tech and tooling on its own won't be enough - I personally believe success in the future will be anchored in three key areas: A learning mindset: The pace of change is accelerating. The ability to continuously learn, adapt, and apply new knowledge will be more valuable than a single skillset. Complex judgement: As routine tasks become AI augmented, our roles will shift towards navigating ambiguity and making sound decisions in complex situations - a place where human insight remains irreplaceable Emotional intelligence: In a world of algorithms and digital screens, the ability to connect, empathise and collaborate with people is not a soft skill; it's a critical one. It's the foundation of leadership, teamwork and client relationships. #teamwork #MacquarieGroup We're thrilled to be building a team that excels in these areas, ready to harness new technology with wisdom and humanity. A very warm welcome to all our new starters! Tony Graham, Richard Heeley, Luis Uguina, Natasha Blackman, Michelle Perera, Shaun Kamler

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As widely expected, the RBA cut the cash rate by 25bps to 3.6% today. With underlying inflation clearly inside the 2–3% target range and heading towards its 2½% midpoint, the need for restrictive monetary policy is dissipating. The updated inflation forecasts are largely unchanged but show a 2.5% at the end of the (extended) forecast horizon to December 2027. The RBA’s forecasts are predicated on further cuts to the cash rate as expressed by market pricing last week. The trough rate implied by this assumption is now sub-3%, consistent with our own view. In the press conference, the Governor did not rule out back-to-back cuts and emphasised that the MPB would take things meeting by meeting. The every-other-meeting pace implied by our own recent forecasts still seems a reasonable base case, though. The RBA has downgraded its near-term view of trend productivity growth, and hence GDP growth. Importantly, this does not imply a downgrade to the long-run trend. In addition, the RBA has moved away from its view of a year ago that slow productivity growth presented an upside risk to inflation. https://lnkd.in/g2CDM9Qv

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I’m delighted that my op-ed was published yesterday in the Australian Financial Review. A handful of global index providers dominate the benchmarks used by Australian super funds; charging millions in licensing fees that ultimately reduce member returns. This lack of competition means higher costs, less innovation and limited flexibility for funds to adopt better alternatives. Superannuation is compulsory. Members cannot opt out and trustees cannot escape the benchmarks against which they are judged. That makes it critical we shine a light on this issue and call for regulation that doesn’t entrench monopoly rents for private firms, but instead creates a contestable market that better serves investors. Thanks to the AFR for shining a light on this important issue. The link to the article is in the comments. Christine St Anne Stephanie Lerdall Amelia Furr Jonathan Morgan Ashley Wang, CIMA® Mark Hoven Luke Elliott Emma Roylett Mark McPhee Michelle Cameron Marco Bell Tom Raymond Mark Roomans Brian Cullen Julie Willoughby Kunal Kapoor Kate Parker (CIM) Chris Galloway, CFA Pankaj Parmar, CFA Frannie Besztery

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💡 Innovation in Action: From Banknotes to Real-Time Payments For decades, the RBA has played a key role in shaping Australia’s financial infrastructure, often in collaboration with industry and research partners. 🔹 In the 1980s, we pioneered polymer banknotes with the CSIRO, making cash more secure and durable. 🔹 In recent years, we’ve supported the development of the New Payments Platform, enabling real-time payments 24/7 🔹 During the pandemic, this infrastructure helped deliver nearly 700,000 support payments in a single day. 📖 Learn how we’re preparing for the future of central banking in the Governor’s latest speech https://ow.ly/nf8850WRH7S

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