Shareholders give Macquarie the green light 26 October 2007 4:22PM John Kavanagh Macquarie Bank shareholders yesterday voted in support of resolutions that will allow the bank to proceed with its plan to restructure its business under a non operating holding company structure.There was very strong support for the three resolutions, covering a share scheme, capital reduction and an options scheme.Under the new structure a holding company will own the bank, whose business would be separated from other activities such as asset management. Macquarie's investment banking business, which is its biggest producer of earnings, would be separated from Macquarie's banking activities.The Australian Prudential Regulation Authority has been uncomfortable regulating banks that also own insurance companies and wealth management businesses. It has encouraged the banks to adopt NOHC structures. Macquarie has obtained commitments for an $8 billion facility from a syndicate of local and overseas banks. The money would be used to take over funding of non-bank businesses from the bank.