Greg Ward to take over as chief executive in November
Macquarie Group has confirmed that chief executive Shemara Wikramanayake will retire in November 2026 after eight years in the role, with Greg Ward, current head of the group's banking and financial services division, set to succeed her.
Ward's division has driven much of Macquarie's growth in home lending, deposits and wealth management over the past decade. He joined Macquarie in 1996 and served as its chief financial officer for 14 years, having led the banking and financial services division since 2013 after a stint as deputy managing director.
Under his leadership, the division has become a significant competitor in Australian mortgages, deposits and wealth management.
Macquarie chair Glenn Stevens said Wikramanayake, who joined the company in 1987 and previously ran its asset management arm for a decade, was leaving the company "in a strong position."
The transition comes as Macquarie faces continued investor scrutiny over governance and remuneration, following a first-ever shareholder strike against its pay report last year and ongoing regulatory attention from bodies including the Australian Prudential Regulation Authority (APRA).
Several other senior leaders, including former chief financial officer Alex Harvey, have also departed the group in recent months. Wikramanayake succeeded Nicholas Moore as chief executive in December 2018, becoming the first woman to hold the role.
