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Macquarie cashes in on volatility
Nick OâKane, Macquarieâs commodities and global markets head, earned almost as much as former CEO Allan Moss did in the pre-GFC boom times as his division helped generate a record profit.
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Macquarie Groupâs record 2021 profit is built on the outstanding performance of the commodities and global markets division, which capitalised on volatility in energy, credit, precious metals and currency markets.
The CGM business benefited from a weather event in the United States in February that contributed to inventory management and trading income soaring from $178 million in 2020 to $976 million this year.
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