Home / Business and Economy / Macquarie Banking Head Takes CEO Helm
Macquarie Banking Head Takes CEO Helm
23 Jul
Summary
- Greg Ward appointed new CEO, succeeding Shemara Wikramanayake.
- Ward will lead Australian asset management and trading business.
- Wikramanayake's tenure saw significant growth in commodities and renewables.
Macquarie has announced Greg Ward as its new chief executive, with the appointment taking effect in November. Ward, who currently heads the company's banking and financial services division, will succeed Shemara Wikramanayake. Wikramanayake, Macquarie's first female CEO, is retiring after an eight-year term.
During Wikramanayake's leadership, Macquarie experienced significant expansion in its commodities trading business, which generated record profits due to market volatility. The company also increased its focus on renewable energy and digital infrastructure investments. Ward joined Macquarie in 1996 and previously served as group chief financial officer for 14 years before leading the banking division.
Wikramanayake's retirement was anticipated, with Ward considered a strong contender for the CEO position. The company's annual meeting in Sydney is scheduled for Thursday, following a challenging meeting last year concerning executive pay policies. Macquarie is also set to address the appointment of KPMG as its new auditor amidst the consultancy's ethical scrutiny.
