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Architect who shaped the Macquarie Model

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Allan Moss has overseen investment bank's meteoric rise through an innovative philosophy and investment strategy

ALLAN MOSS, the chief executive of Australia's Macquarie Bank, uses a Chinese proverb to describe the approach which has transformed his company from an outpost of a British investment bank to a global player inside 20 years.

'I think there's a Chinese saying that you cross the stream by feeling the stones with your feet,' says Mr Moss.

'It's been a step-by-step process. We haven't tried to construct grand, long-term visions, we've just been trying to do what we do well and add value by taking the incremental steps.'

Most recently, those incremental steps have been made in Asia.

Last year's purchase of ING's cash equities business has added another 450 to Macquarie's head-count, with the result that the bank now sources about a third of its income from the region.

A stockbroking licence has been acquired in Malaysia, the business is starting up in India and a new joint venture has been announced for Thailand.

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