Things must be getting tight at Macquarie Bank when the group starts looking for efficiencies by restructuring business groups. Yesterday the bank announced that it would combine the activities of Macquarie Capital Securities and Equity Markets Group into a new operating group to be called Macquarie Securities.Last year Macquarie combined the Banking and Securitisation Group with the retail banking and funds management division, Financial Services Group.The new Macquarie Securities will contribute 28 per cent of group earnings. It will operate under joint group heads, Kim Burke and Roy Laidlaw. Ostensibly the merger is about delivering "a broader equity product range and better service" to the combined client base.The merger of Financial Services and Banking and Securitisation was, according to the bank, also about better client service.It makes sense to clean up Macquarie's structure. Operating groups included Macquarie Capital, which generated 63 percent of earnings, and Banking and Securitisation, which contributed one per cent.