Macquarie Group CEO to retire after eight years in the top job
Updated ,first published
Macquarie Group chief executive Shemara Wikramanayake is retiring as boss of the investment giant after eight years in the job, to be replaced by the head of its banking arm, Greg Ward.
The investment bank on Thursday said Wikramanayake, who is 64 and has been chief executive since late 2018, will retire from November this year.
Chair Glenn Stevens said: “The Board extends its heartfelt thanks to Shemara, who leaves Macquarie in a strong position, with sustained growth across each of our diverse businesses and a highly capable senior team.”
“Over her last eight years as CEO, and for almost four decades with the company, Shemara has steered Macquarie through expansion into new markets, the dislocation of the COVID pandemic, and significantly enhanced recognition of our brand and the value we bring to global clients and communities.”
“In considering the transition from Shemara’s groundbreaking tenure, the Board is pleased to have an experienced candidate of Greg’s calibre to lead Macquarie through its next phase of growth and looks forward to working with him as he brings his global experience and proven ability as a business and technology leader to build on this momentum in the years ahead,” Stevens said.
Ward, 58, is a Macquarie veteran who has run the banking and financial services arm of Macquarie, which houses its rapidly-growing retail bank, since 2013. He joined Macquarie in 1996 and previously served as chief financial officer for 14 years.
Under Ward’s leadership, the retail bank has aggressively taken on the big four in home loans and deposits, investing heavily in its technology platform and expanding to become the fifth-biggest bank in the country.
More to come
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Clancy Yeates is deputy business editor. He has covered banking and financial services, and was previously national business correspondent in the Canberra bureau.Connect via X or email.
