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 role, being replaced by Greg Ward, chairman of its banking arm.
Wikramanayake, who is 64 and has been chief executive since late 2018, will retire from November this year, the investment bank said on Thursday.
Chairman Glenn Stevens said: “The Board wholeheartedly thanks Shemara, who leaves Macquarie in a strong position with sustainable growth in each of our different business areas and a highly talented senior team.”
“During his last eight years as CEO and nearly four decades with the company, Shemara has led Macquarie through expansion into new markets, recovery from the COVID pandemic, and significantly increasing recognition of our brand and the value we bring to global customers and communities.”
“As we consider the transition from Shemara’s groundbreaking tenure, the Board is pleased to have an experienced candidate of Greg’s caliber to lead Macquarie into its next phase of growth and looks forward to working with him as he brings his global experience and proven talent as a business and technology leader to build on this momentum in the years to come,” Stevens said.
Ward, 58, is a Macquarie veteran who has led Macquarie’s banking and financial services arm, home to the fast-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 aggressively took on the big four in home loans and deposits, invested heavily in its technology platform and became the nation’s fifth-largest bank.
More to come
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Clancy Yeates is deputy business editor. He covered banking and financial services and was previously a national business correspondent in the Canberra bureau.Connect with: X or email.
