Why the market is excited by Macquarie Group Ltd’s (ASX: MQG) new hire from Tesla

Macquarie Group Ltd (ASX: MQG) is featured almost daily in the press but one article that grabbed my attention today was the appointment of Greg Callman as Macquarie Capital’s global head of energy technology.

The Australian Financial Review and Bloomberg reported the appointment and noted Greg’s previous experience working for Elon Musk at Tesla Inc (NASDAQ: TSLA) with a focus on energy storage and mobility technologies. 

Why is this appointment interesting?

Well, it comes on the back of Macquarie’s $9.5 billion investment in renewable energy projects in FY 2018. Macquarie has been betting big on this global trend and the appointment of a seasoned executive in this area could reap big rewards for them and their investors.

Macquarie’s shares were up 3% this morning.

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Kevin Gandiya has no position in any of the stocks mentioned.

You can find Kevin on Twitter @KevinGandiya.

The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends Tesla. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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