(Image: Private Media)

When it comes to the millionaires' factory at Macquarie Group, the $70 billion global behemoth has a unique way of going about its business.

Whether it’s the long-standing model to base more than 80% of employee pay on the profit-share scheme, the global push to become the world’s biggest manager of infrastructure, or the conduct of its annual general meeting (AGM), things always seem to be different at Macquarie.

No other Australian bank has dared to appoint as chairman of its board a former Reserve Bank governor, but that’s what Macquarie did in May this year. And at last Thursday’s AGM, Glenn Stevens was put to the test for the first time as a big bank chairman.