Macquarie Said to Exit Real Estate, Leveraged Finance in Canada

Macquarie Group Ltd. (MQG), Australia’s biggest investment bank, is exiting its real estate and leveraged-finance investment-banking businesses in Canada, according to a person with direct knowledge of the change.

Macquarie Capital Markets Canada cut “a very small number” of jobs today in areas that aren’t considered essential, said the person, who asked not to be identified because the information hasn’t been made public. The Sydney-based firm is focusing on oil-and-gas, resources, infrastructure and related equity capital markets in the country, the person said.

A telephone and e-mail message left with David Fleck, who heads Macquarie in Canada, wasn’t immediately returned.

To contact the reporter on this story: Doug Alexander in Toronto at dalexander3@bloomberg.net

To contact the editors responsible for this story: David Scheer at dscheer@bloomberg.net; David Scanlan at dscanlan@bloomberg.net

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