Main Contents
Key financial details
Chairman and Managing Director’s Report
Vale: David Clarke
Macquarie - the global specialist
Regional Activity
About Macquarie
- Macquarie Securities Group
- Macquarie Capital
- Macquarie Funds Group
- Fixed Income, Currencies and Commodities
- Corporate and Asset Finance Group
- Banking and Financial Services Group
- Real Estate Banking Division
- Central functions
Macquarie Group Foundation
Corporate Governance Statement
Diversity
Sustainability
Risk Management Report
Directors’ Report
- Remuneration Report
- Schedule 1
- Schedule 2
Financial Report
- Income statements
- Statements of comprehensive income
- Statements of financial position
- Statements of changes in equity
- Statements of cash flows
Notes to the financial statements
Directors’ declaration
Independent audit report
10 year history
Investor information
GRI index and independent review
Glossary
Remuneration Report Contents
Executive summary
Introduction
1
Macquarie’s remuneration framework remains sound and is continuing to deliver against Objectives span>
1.1
Macquarie’s remuneration framework has undergone incremental changes span>
1.2
Remuneration arrangements continue to play a critical role in delivering results for shareholders span>
1.2.1
Relative performance has been reasonably strong but under pressure span>
1.2.2
Staff retention is increasingly challenging span>
2
However, some remuneration-related challenges need to be addressed
2.1
Continued focus on governance by Governments and regulators span>
2.2
Strong competition for talent span>
3
Therefore, Macquarie is enhancing its remuneration arrangements while ensuring its overall remuneration approach remains in place
3.1
The remuneration structure continues to emphasise performance-based remuneration span>
3.2
Remuneration is linked to the drivers of shareholder returns span>
3.3
Direct long-term alignment with shareholder interests is emphasised span>
3.3.1
Profit share arrangements – delivery of profit share span>
3.3.2
Investment of retained profit share span>
3.3.3
Income on invested retained profit share span>
3.3.4
Release of retained profit share – normal vesting span>
3.3.5
Forfeiture of retained profit share whilst employed – ‘Malus’ span>
3.3.6
Early vesting and release of retained profit share span>
3.3.7
Disqualifying events span>
3.3.8
Tax events span>
3.3.9
Minimum shareholding requirement for Executive Directors span>
3.3.10
Staff share plans encourage broader staff equity participation – Employee share plan span>
3.3.11
Performance share units (PSUs) span>
3.3.11.1
Determination and allocation of the PSUs span>
3.3.11.2
Vesting Schedule span>
3.3.11.3
Performance hurdles for Executive Committee PSUs span>
3.3.12
Options, while discontinued, remain outstanding span>
3.3.12.1
General terms of option arrangements span>
3.3.12.2
Performance hurdles for Executive Committee options span>
3.3.13
No special contractual termination payments span>
3.4
Strong governance has been exercised span>
3.4.1
Strong Board oversight exists to ensure sound overall remuneration governance span>
3.4.2
Risk is assessed as part of the profit share allocation process span>
3.4.3
An independent remuneration review has been undertaken span>
3.5
Non-Executive Directors continue to be recognised for their role span>
3.5.1
Non-Executive Director remuneration policy span>
3.5.2
Board and Committee fees span>
3.5.3
Minimum shareholding requirement for Non-Executive Directors span>
Appendices: Key Management Personnel
disclosures
Appendix 1: Key Management Personnel
Appendix 2: Remuneration disclosures
Appendix 3: Share and option disclosures
Appendix 4: Loan disclosures
Appendix 5: Other disclosures
Financial Report Contents
Income statements
Statements of comprehensive income
Statements of financial position
Statements of changes in equity
Statements of cash flows
Notes to the financial statements
1.
Summary of significant accounting policies
2.
Profit for the financial year
3.
Segment reporting
4.
Income tax expense
5.
Dividends and distributions paid or provided for
6.
Earnings per share
7.
Due from financial institutions
8.
Cash collateral on securities borrowed and reverse repurchase agreements
9.
Trading portfolio assets
10.
Loan assets held at amortised cost
11.
Impaired financial assets
12.
Other financial assets at fair value through profit or loss
13.
Other assets
14.
Investment securities available for sale
15.
Intangible assets
16.
Life investment contracts and other unitholder investment assets
17.
Interests in associates and joint ventures accounted for using the equity method
18.
Property, plant and equipment
19.
Investments in subsidiaries
20.
Deferred income tax assets/(liabilities)
21.
Non-current assets and disposal groups classified as held for sale
22.
Due to financial institutions
23.
Cash collateral on securities lent and repurchase agreements
24.
Trading portfolio liabilities
25.
Debt issued at amortised cost
26.
Other financial liabilities at fair value through profit or loss
27.
Other liabilities
28.
Provisions
29.
Capital management strategy
30.
Loan capital
31.
Contributed equity
32.
Reserves, retained earnings and non-controlling interests
33.
Notes to the statements of cash flows
34.
Related party information
35.
Key Management Personnel disclosure
36.
Employee equity participation
37.
Contingent liabilities and commitments
38.
Capital and other expenditure commitments
39.
Lease commitments
40.
Derivative financial instruments
41.
Financial risk management
42.
Average interest bearing assets and liabilities and related interest
43.
Fair values of financial assets and liabilities
44.
Audit and other services provided by PricewaterhouseCoopers
45.
Acquisitions and disposals of subsidiaries and businesses
46.
Events after the Reporting Period
Directors’ declaration
Independent audit report
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