Australia’s Macquarie Group revealed on Thursday that Chief Executive Shemara Wikramanayake plans to retire, while the company also posted stronger profits from its commodities and global markets business.
Wikramanayake will officially leave her role as managing director and chief executive of Australia’s leading investment bank on November 6. The company has tapped Greg Ward, who currently leads the Banking and Financial Services division, to take over as her replacement.
Chair Glenn Stevens praised Wikramanayake’s long tenure with the firm, saying: “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.”
Macquarie, which does not publicly release quarterly profit figures, noted that contributions from its Asset Management division declined, largely due to the sale of its North American and European public investments business.
