Macquarie appoints Alex Harvey CEO of Asia

“Macquarie’s business in Asia continues to develop into a full-service offering focused on creating new opportunities for Macquarie’s clients and its people:” Harvey

Macquarie Group Limited (Macquarie) announced the appointment of Alex Harvey as chief executive officer of Macquarie’s operations in Asia.  
 
Alex joined Macquarie in 1999 from Bankers Trust and has over 15 years experience in the financial services industry having led equity, debt and advisory transactions in Australia, Asia, Europe and the United States.
 
Alex is currently an executive director in Macquarie Capital and global head of the telecommunications, media, entertainment and technology (TMET) group. Alex was also based in Hong Kong with Macquarie from 2000 to 2003.
 
“We are very pleased to appoint Alex to this role. Alex has a strong track record of leadership, and of building international businesses and client relationships,” said
Nicholas Moore, chief executive officer of Macquarie Group Limited.  “Alex will play a key role delivering all aspects of Macquarie’s business to our clients in the region. His appointment reflects Macquarie’s commitment to providing the highest level of service to our growing client base in this region,” he added.
 
“I am honoured to have been invited to lead Macquarie’s Asia business,” said Mr
Harvey. “Macquarie’s business in Asia continues to develop into a full-service offering focused on creating new opportunities for Macquarie’s clients and its people.”  
 
Mr Harvey will be based in Macquarie’s Hong Kong office from later this month.

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Suven Life Sciences Q3 net down 16%

Suven’s net income from sales and services rose to Rs48.72 crore for the third quarter

Suven Life Sciences posted a rise of 16.21% in net profit to Rs1.29 crore for the third quarter ended 31 December 2011.

The company had posted a net profit of Rs1.11 crore in the corresponding period of previous fiscal.

The company's net income from sales and services rose to Rs48.72 crore for the third quarter, compared to Rs32.06 crore in the same period previous fiscal, Suven Life Sciences said in a filing to the Bombay Stock Exchange (BSE).

In the late afternoon, Suven Life Sciences was trading at around Rs15.75 per share on the Bombay Stock Exchange, 0.25% down from the previous close.

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NMDC Q3 net up 22% at Rs1,859 crore

Net sales of NMDC stood at Rs2,821.95 crore during the quarter.

State-owned miner NMDC reported a 22.45% growth in net profit to Rs1,858.81 crore for the quarter ended 31 December 2011, largely due to higher realisation from the sale of iron ore.

The company had reported a net profit of Rs1,518.03 crore for the corresponding quarter of 2010-11.

Net sales of the company stood at Rs2,821.95 crore during the quarter, a 7.68% increase from Rs2,621.22 crore in Q3 last fiscal, it said in a filing to the Bombay Stock Exchange (BSE).

The company expects to achieve a growth of about 8% in iron ore production to about 27 million tonne during the current fiscal. During the first nine months of the current fiscal, it produced about 20 million tonnes of iron ore.

In the late afternoon, NMDC was trading at around Rs182.75 per share on the Bombay Stock Exchange, 2.18% up from the previous close.

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