Macquarie has 15,715 staff across 30 markets but the group has not yet signalled if employee numbers will drop as it scales back the equities division.
However it has said it will continue to service its global institutional clients, retaining an equity capital market (ECM) offering in all regions alongside its global cross-border advisory platform.
As part of the move, the group has entered into a preliminary cooperation agreement with French multinational Kepler Cheuvreux – aiming to bring together equity trading and research capabilities across Europe and the APAC region, as well as providing both companies’ clients with access to the areas.
Macquarie is also looking for potential partners in North and South America.
Cross-distribution of European and APAC equity research across the Macquarie and Kepler Cheuvreux will commence from early next year.
“The strategic partnership allows both firms to reach a broader selection of clients, while also combining forces to create unique platform infrastructure in global program trading,” Macquarie stated.
As at 31 March, the company had assets under management of $391.4 billion.
