Is the world's love affair with Macquarie Group about to come to a bitter and twisted end?
The pin-up boy of Aussie finance, which is currently on a hiring spree in the US and Europe, seems to be taking on the role of spoiled brat as its profits and share price tumble, and worries grow as to whether its 'millionaire factory' banking model is fair dinkum after all.
Macquarie announced its results last week, with new chief executive Nicholas Moore warning that its 16-year run of profit growth is about to hit the buffers.
With most of its eggs in the infrastructure basket, the bank is facing fierce competition for infrastructure assets and higher financing costs. Eyebrows have also been raised over its tendency to take from one area of the business to pay dividends in another.
The difficulties could hit Mac bankers firm in the pocket as the firm's bonus pool starts to shrink. Moore, for example, must make do with a mere AU$24.8m this year, down from AU$32.9m in 2007.
Is Big Mac about to be fried? Let us know below.