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Tait hangs up his Macquarie boots

AFTER nearly 25 years with Macquarie Bank, including six as chairman of its Western Australian operations, Ed Tait has retired to pursue private business interests.

The 48-year-old Mr Tait left the bank last week and will focus on his private investments and a number of board positions.

Mr Tait is a director of the WA Biomedical Research Institute, a joint initiative of Curtin and Murdoch universities, and the WA Museum.

He is also part way through the Securities Institute’s masters degree in applied finance.

Given his work experience, Mr Tait must rank as one of the Securities Institute’s best-qualified students.

He said he would be keeping his eyes open for other opportunities, including additional board positions.

Mr Tait joined Macquarie in 1980 when it was a merchant bank known as Hill Samuel and had only about 100 staff.

He worked in the Sydney dealing room until 1995, focusing on derivative markets, then moved into funds management.

Mr Tait was head of institutional funds management in 1998, when marriage brought him back to his home town.

Since returning to Perth, Mr Tait has helped to develop the bank’s project finance, investment banking and, most recently, private banking operations.

“Perth is now seen as an important part of the bank’s mainstream operations,” he said.

“It’s reached a critical mass, which is nice.”

Mr Tait said Macquarie, which has about 5,000 staff, employs the same strategies now as when he joined in 1980.

“The strategy has not changed since I started. The basic themes have not changed.”

 

 

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