Has Macquarie lost its magic?

This lacklustre round of big US bank earnings should serve as a wake-up call to Macquarie, which must identify creative new ways to differentiate itself from its larger global peers to return to bumper profits.

Macquarie Bank investors are unlikely to find comfort in the latest batch of earnings results from the big US banks, even though they confirm that the Australian group isn’t the only outfit struggling to generate bumper profits in the current environment.

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