Macquarie CEO Exits With $339M Stake
Synopsis
Shemara Wikramanayake will step down after overseeing record earnings and a strong run in the bank's share price.
Macquarie's CEO Shemara Wikramanayake is leaving later this year after eight years in charge of Australia's largest investment bank, where he has helped the firm post its highest profits, expand its reach internationally and boost its share value to new heights.
The board has internally promoted long-serving executive Greg Ward as its interim chief executive from 6 November.
Macquarie's first female CEO, Wikramanayake, joined the group nearly 40 years ago and was appointed to the position in 2018. Based on the Macquarie share price at the time of the announcement, she will depart with approximately 1.47 million Macquarie shares worth around US$339 million (or approximately A$486 million).
Leadership Passes to Long-Time Executive
Ward has worked for Macquarie for 30 years and now leads the Banking and Financial Services business, which is one of the group's biggest. Prior to this he was the CFO for 14 years and instrumental in Macquarie's retail banking growth, such as mortgage, deposit and wealth management.
Ward's appointment was the result of a comprehensive succession plan and his service in various leadership roles in the company, Board Chair Glenn Stevens said.
Transition Follows Record Financial Performance
The departure of the Macquarie CEO Shemara Wikramanayake follows the Macquarie Group announcing a net profit of A$4.85 billion last month, which rose 30% from a year earlier, in its FY2026 Annual Report. The net operating income rose to A$19.48 billion and assets under management to A$722.1 billion.
Macquarie currently serves over 30 markets, with over 19,000 employees worldwide. The group's net operating income was driven by international operations (68%), the Americas (31%), Europe, the Middle East and Africa (28%), Australia and New Zealand (32%) and Asia (9%).
The figures are indicative of the company's ongoing dependence on foreign businesses, with its banking arm playing a significant role.
Macquarie's CEO, Wikramanayake, led the firm's growth in infrastructure, asset management, commodities, investment banking and retail financial services during a transformative era of global markets. Her retirement marks one of the biggest leadership changes in Australia's financial sector this year.
Source: Bloomberg
Pooja Malik is a business journalist with over six years of experience covering startups, entrepreneurship, and emerging trends. She has previously worked with leading media platforms such as YourStory Media and BW BusinessWorld, where she reported on business, policy, and market developments. Currently, she serves as Editor at The Inspirepreneur Magazine, where she writes and edits stories across business, lifestyle, and travel, with a focus on clarity, accuracy, and reader relevance.
