A dealmaker known for sitting outside former Macquarie CEO Nicholas Moore’s office and getting the bank into lucrative digital infrastructure assets is a “good leaver”.
Smith, who heads up Macquarie’s infrastructure and real assets investment activities in Australia and New Zealand, is retiring after a hugely successful 28 years.As is typical of Macquarie’s top brass, he started as a graduate out of UNSW in 1996, worked on M&A and equity capital markets deals in the investment banking team, before crossing into principal investments and asset management.
That is understandable. We all know long-term Macquarie bankers do well, but what you see less is how intense it can be working for an institution that only wants high-performers. Twenty-eight years is a long stint. Those that have been through the good-leaver program say Macquarie is strict on it. The bank rewards its dealmakers and asset managers well while they’re in the building but does not like losing them, particularly to rivals., would be expected to forfeit their deferred compensation. A new employer would typically be expected to buy out that deferred compensation, which makes senior Macquarie people expensive to hire.
Those investments included land and motor vehicle registries, fibre owner Vocus’ buyout and data centre owner AirTrunk – helping to pioneer local infrastructure investors’ push into digital assets in this country. He handed over his team’s reins to Ani Satchcroft,, in late 2022, moving to be executive chair of the real assets arm. He finishes at the end of this month.
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