Macquarie expands NZ analysis team
Macquarie has added three analysts to its New Zealand operations as part of a plan to boost coverage of stocks to 90 per cent of the New Zealand stock market.
This latest move follows an announcement last week that the Macquarie Equities New Zealand arm has expanded into the retail stockbroking market through a deal with JP Morgan's retail equities broking team.
Macquarie New Zealand chief Jim McLay says both moves are part of a drive to provide full service investment banking facilities in New Zealand.
All three analysts have stepped across from Deustche Securities NZ. David Stanley, who prior to Deutsche was with BT NZ, will head up research. Warren Doak takes a research analyst role, and has experience in companies on both sides of the Tasman prior to Deutshe. Paul Huxford, another research analyst, also had a former life at BT NZ.
"As the New Zealand and Australian markets develop more of a trans-Tasman focus, for example telecommunications, dairy and airlines, Macquarie's research effort is structured to provide our clients with the latest trans-Tasman perspectives," McLay says.
The new additions take the total number of Macquarie analysts in New Zealand and Australian offices to 55.
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