Macquarie Group Ltd S/Adr (MQBKY) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Well, good morning, everyone, and welcome to Macquarie's full year 2025 results presentation. Welcome to those here in the room and online. Before we begin, I would like to acknowledge the traditional custodians of this land, the Gadigal people of the Eora Nation, and pay our respects to Elders past, present and emerging. If I could also ask everyone to turn their mobile phones off or onto silent, please. So today, as is customary, you'll hear from our CEO and Managing Director, Shamara Wickramanayake, and our CFO, Alex Harvey. We've also got, I think, all of our members of the executive committee here as well. We'll have time for questions at the end. And with that, I'll hand over to Shamara. Thank you very much. Thanks, Sam, and welcome again, everybody. And I'd like to just note, as Sam said, that we've got all of our eight group heads here in the front row, so hopefully you'll get to hear from them. We've also got our chairman and our chair of the audit committee sitting with us in the front row, so thank you for joining. And as usual, I'll just kick this off by noting the business footprint that we have across our eight groups. First of all, those of you that came to the EMEA investor tour earlier this year would have seen that we've evolved the way we're articulating the description of the nature of our earnings. And we've got the annuity style income in the market facing, but we're also recognising between that that there's a whole pile of income that we generate. that has a very recurrent nature to it and may previously have been called market facing. Things like the client service revenues that we have in our commodities and global markets business or the performance fees in Macquarie Asset Management where given the scale of our business now we can be confi...