Anthony Macdonald

I mean, she's got a lot of work to do to turn it around.

Hopefully next week, investors will get a better idea of exactly how she's going to do it.

But first, James, let's start with a bit of news from Friday morning.

We got one of the juiciest results of the year.

Macquarie Group's juicy because the numbers are normally big.

Macquarie reported a $4.85 billion profit, one of its best ever, with revenue earnings up across all of its divisions, commodities, asset management, banking, investment banking.

But James, the story's always in the pay tables here, isn't it?

Oh, we're so crass, aren't we, Anthony?

Yeah, I think it's fair to say it's got its groove back, James.

Probably third highest profit ever.

The first two are the ones around the Ukraine invasion when they happened, 2022, 2023.

Macquarie does well in times of

these energy markets volatility that's when it makes it super profits like you i'm interested in the compensation at the bank it's about 40 across the bank so about 40 of every dollar brought in in net revenue gets paid out to staff that's about what you'd expect in the industry slightly lower than last year but i mean i think that tells you it's a fat year

I'm interested in your take on Shamara's $7 million hit.

James, you reckon this is Shamara hugging the bomb, though, rather than it being lobbed at her?

No, I just wonder whether it was her or whether it's the REM committee, to be honest.

Like,

As much as CEOs love to take the blame, I wonder whether that's the case if you put your hand up for it or whether it happens to you.

It probably doesn't matter either way.

But yeah, you're right.