Q3 2022 Macquarie Group Ltd Operating Results Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Jonathan Mott - Barrenjoey Markets Pty Limited, Research Division - Analyst : This is for both Shemara and Alex, if I could. You talked a lot about the conservative stance, conservative settings of some of the business. But when you look at the quarter and the year, the environment is exceptionally good. You've both been at Macquarie for several decades now. Have you ever seen the environment better than it is today across your businesses or making money? And if -- what would it actually take you to be less conservative in some of these settings?

Question: Jonathan Mott - Barrenjoey Markets Pty Limited, Research Division - Analyst : And just a follow-up question, if I could, on the commodities business. At the start of the call, Shemara, you started mentioning your market share in global M&A and Australian mortgages, a few other products. Have you got a feel for the market share of your commodities business as a share of revenue across North America and Europe? Is there any McLagan data or anything you can point to, to show the opportunity there and what your share is in those businesses as a revenue share?