Macquarie Group Limited
(ASX:MQG) expects its full year result to be weaker than last year and has announced a management shake-up.
For the six months to September 30, Macquarie Group reported a net profit of $305 million, a 24 per cent fall from the same period last year, and 45 per cent lower than the prior half.
Chief executive Nicholas Moore says the first half has seen heightened levels of uncertainty, resulting in low levels of activity and significant volatility.
The group also says it will buyback up to ten per cent of its shares. Macquarie has announced an unfranked dividend of 65 cents a share payable on December 14.
