This article is from the Australian Property Journal archive
A couple of decades ago, Macquarie Bank was just another ?minnow? banking outfit looking for an edge.
In those days they were considered nothing more than cowboys many doubted how long they’d last.
Bill Moss and “cowboys” took risks the “Big Four” shunned… especially when it came to property.
Today, thanks to the likes of Moss and his team of outriders Macquarie Bank is a leader rather than a follower… in fact, many believe the “Big Four” have in many areas been left behind Macquarie Bank.
Yesterday, in a landmark day for Macquarie Bank, the head of Banking and Property Head Bill Moss, AM, announced his resignation.
Moss’ resignation is all but immediate with a sign off date of March 30.
Moss said yesterday that he was very grateful to the people who have called me with kind words this morning.
But those kind words are the amount of more than two decades launching careers and companies that have now become part of Australia’s corporate and financial elite.
“Over 22 years the Bank has provided me with extraordinary support to test ideas and explore possibilities. With the support of the people who work with me, many successful ventures have been launched. I’m very proud of what I have achieved,” Moss said on the announcement of his retirement.
Bill Moss established Macquarie’s property business in 1984, which became the Banking and Property Group in 1998.
Macquarie Bank now comprises over 1,600 staff and works with its associates and partners to provide a comprehensive range of property, banking, investment lending, mortgage and related financial services worldwide through 28 offices in Australia and 12 other countries around the world.
Moss has overseen Macquarie’s property funds management businesses, which manages globally in excess of $23 billion of property related assets including over 750 commercial, industrial and retail properties.
The listed property businesses ranks as a single entity in the top 30 largest listed companies on the Australian Stock Exchange.
Moss is also a director of ASX-listed Apollo Health Sciences Limited and the Sydney Kings basketball team.
He was awarded the inaugural "Outstanding Property Financier Award" in the Australian Property Achievement Awards 1992 and in 2006 was awarded "Property Person of the Year" by the NSW Urban Taskforce. Moss has also created a very strong anti-fraud ethic within the Banking and Property Group and has taken a public leadership role in raising the awareness of the effect of fraud in the community.
“I especially want to thank the terrific team who’ve worked with me in the many divisions of the Banking and Property Group. We’ve achieved some remarkable milestones together.”
Looking back on his 22 years with the Bank, Moss said that in the earlier years he was particularly proud of the way he and John Symond led the way by providing cheap mortgages through increased competition with the bigger banks.
“In the more recent years I have been able to explore some other ideas of great personal importance, that haven’t fitted the typical investment bank model, such as the tourism project at the aboriginal community of Titjikala in central Australia and Lime Taxis in Sydney.”
“But as lots of people will appreciate, 22 years is a long time in one job and there are many ideas that I have yet to test. In the next few weeks I will be thanking many people around the world for the inspiration and support they have given me. Then I will take a holiday.
“After that, well, it’s a clean slate and a new start, which is pretty exciting,” Moss concluded.
Commenting on Moss’ resignation, the CEO of Macquarie Bank, Allan Moss said: “Bill is an extraordinary manager and entrepreneur.
“When Bill joined us in 1984, he started with a team of two and proceeded to build what has become a dynamic global business earning hundreds of millions of dollars every year.
“Bill’s great legacy is the outstanding and very professional leadership team which he has built,” he added.
Stephen Girdis who is currently Head of the Real Estate Divisions will be the Head of the new Real Estate Group. Tony Gill who is currently Head of the Banking and Securitisation Divisions will be the head of the Banking and Securitisation Group.
Australian Property Journal
