Macquarie boss to step down

Macquarie Group chief executive Shemara Wikramanayake will retire in November, bringing to a close an almost 40-year career with the financial services giant after eight years leading the group through global expansion and the COVID-19 pandemic.

Wikramanayake will step down from her roles as managing director, chief executive and director of Macquarie Group and Macquarie Bank on 6 November 2026.

Succession Plans

The group confirmed that banking and financial services head Greg Ward has been appointed as her successor, subject to the necessary approvals, and will join the board from 7 November.

Glenn Stevens, chair of Macquarie Group, said Wikramanayake would leave the business in a strong position following sustained growth across its operations.

Wikramanayake has steered Macquarie through expansion into new markets, the dislocation of the COVID pandemic, and significantly enhanced recognition of the company’s brand and the value it brings to global clients and communities.

She said Macquarie’s culture and people had been the defining feature of her time leading the organisation.

“The great privilege of this role lies in empowering Macquarie’s talented team to perpetuate our unique culture of identifying opportunities and taking accountability for delivering on them to drive sustainable, positive outcomes for our stakeholders,” Wikramanayake said.

Wikramanayake also expressed confidence in the strength of the team, and particularly in Greg Ward’s ability to build on the legacy of Macquarie’s six decades of history.

The board selected Ward to lead the next phase of the group’s growth, with Stevens describing him as an experienced leader capable of building on the momentum established during Wikramanayake’s tenure.

Ward joined Macquarie in 1996.

He said he was honoured to succeed Wikramanayake.

“I’m honoured to be asked by the board to succeed Shemara as Macquarie CEO,” Ward said.

Ward served as global chief financial officer for 14 years before becoming deputy managing director and later head of banking and financial services, where he led the growth of Macquarie’s Australian personal banking, business banking and wealth management operations.

They are pleased to have an experienced candidate of Ward’s calibre to lead Macquarie through its next phase of growth.