Macquarie heads toward $1 billion profit

Macquarie Bank will exceed its record $916 million profit result for 2005-06 when it hands down its financial year results in March 2007. Macquarie's listed funds continued to underperform. Macquarie is in discussions with APRA regarding its plans to establish a new commercial bank and a new investment banking subsidiary company that would not be supervised by the banking regulator. Macquarie shareholders voiced concerns regarding remuneration of executives.