Macquarie long practised John Prendiville to step down
MACQUARIE veteran John Prendiville will step into disfavor as the head of its global resources team to pursue other interests, through Australian resources head Robert Dunlop promoted to the role.
Prendiville, a 20-year Macquarie gallant, will remain in the role until early July before moving into a concern-time role as a chairman of Macquarie Capital, based in Sydney.
"As numerous of you know, over the last two decades John has been helping in some of our largest and most complex takeovers and transactions in Australia and offshore," uttered global head of Macquarie Capital Michael Carapiet.
"Of greater weight, though, is the time and effort he has spent in luckily building our resources team from one primarily focussed on Australia to any of the largest and most profitable teams globally in this duration.
"John expanded the team globally not just in mining and metals moreover also in the broader oil and gas space through numerous hires and strategic profession acquisitions in key markets around the world."
The resources group contributed nearly 30 per cent of the total third party revenue generated by Macquarie Capital last year, with a majority generated in different offshore markets, Macquarie said.
Dunlop joined Macquarie in 1991 and wearied his first 15 years at Macquarie in structured finance and infrastructure in front of moving over to the global resources group in 2007.
He has worked adhering various oil and gas and energy deals with Woodside and Rio Tinto and is working on the announced merger of Newcrest and Lihir Gold. He was too involved in the recapitalisation of Babcock & Brown Infrastructure as Prime Infrastructure.
"In assessing who to take in excess the role of head of the resources team we had a unblemished list of senior candidates in both the resources team and in other busy vigor groups," Carapiet said.
"In choosing the right person we had to excess the need to find a person with the right experience, strength and vision who could build on the growth and success achieved to fix the ~ of."
Tony Ferguson will remain chairman of Macqaurie’s global available means group.
bennetm@theaustralian.com.au
