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Article: Macquarie Solidifying North America Presence: The move may have implications for the U.S.(Macquarie Financial Services acquired Cervus Financial Corp.)
- Article from:
- Origination News
- Article date:
- August 1, 2006
- Author:
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NEW YORK -- Macquarie Group here has strengthened its foothold in North America by entering the Canadian mortgage market.
Macquarie has acquired Canada's Cervus Financial Corp. for C$12.5 million (about $11 million) and said that its Canadian mortgage business, as well as its U.S. mortgage business, will be overseen by Mike Barrett. Mr. Barrett has been the head of the company's Australian mortgage effort. (Craig Thompson, head of business banking for Macquarie in Australia, will be replacing Mr. Barrett as head of the company's mortgage efforts in Australia, according to Linda Henley, chief executive of Macquarie's Memphis, Tenn.-based efforts in the United ...