Macquarie Group: Australian investment bank Macquarie names Greg Ward as next CEO - The Economic Times Benchmarks
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News›News›International›Business›Australian investment bank Macquarie names Greg Ward as
next CEO The Economic Times daily newspaper is available online now. Read Today's Paper Australian investment bank
Macquarie names Greg Ward as next CEOSECTIONSAustralian investment bank Macquarie names Greg Ward as next CEOBy
ReutersLast Updated: Jul 23, 2026, 08:01:00 AM ISTRate StoryFollow usShareFont
SizeAbcSmallAbcMediumAbcLargeSavePrintCommentSynopsisMacquarie Group has appointed Greg Ward as its new chief executive
officer. He will replace Shemara Wikramanayake, who is retiring from the position. Ward, a long-serving executive, will
take over the role on November 6. Investors view this appointment as a sign of confidence in the bank's strategy. The
bank's chair, Glenn Stevens, is also scheduled to retire next year.ReutersOutgoing Macquarie Group Managing Director and
CEO Shemara Wikramanayake attends the Macquarie Group Limited 2026 Annual General Meeting Australia's top investment
bank Macquarie Group on Thursday appointed long-serving executive Greg Ward to replace retiring CEO Shemara
Wikramanayake, a decision investors said showed confidence in the bank's strategy after criticism over executive
pay.Wikramanayake, 64, will leave on November 6, the bank said.Also Read: Macquarie India MD & Co-head Deep Gupta
quitsWard is a 30-year veteran of Macquarie and most recently headed up Macquarie's retail banking business which has
made a concerted push to erode the market share of Australia's big four banks in mortgages and retail
deposits."All of the businesses are showing wonderful growth over the long term and certainly have under Shemara's
tenure. I think we're tremendously well positioned across the entire platform," he said.Live Events"There's always
market events and geopolitical events, and we run a very conservative balance sheet, and I think we're well equipped to
handle any of those challenges." Investors said the appointment of Ward, 58, signalled the board wanted to continue
the strategy adopted by Wikramanayake, who reshaped Macquarie to focus on asset management and infrastructure investment
to make it less reliant on volatile investment banking fees."He's probably a safe pair of hands," said Andy Forster,
a portfolio manager at Argo Investments, a top-20 shareholder in Macquarie."I don't think anything's radically going
to change." PREPARED FOR UNPREDICTABLE CHALLENGES Macquarie Chair Glenn Stevens said both Wikramanayake and Ward,
who was chief financial officer during the global financial crisis, had deftly handled unpredictable challenges
such as the pandemic and war in parts of the world."There'll always be things we might not be able to predict and
what we need is agility and decisiveness to deal with those. Shemara has shown that in an exemplary fashion, and Greg
has shown that in all stages of his career," Chair Glenn Stevens told reporters on a call Thursday.Also Read:
Macquarie shortlists three bidders for road assets saleStevens said the bank's board did not look outside of Macquarie
to find the next chief executive. Ward's appointment was signed off on Wednesday night.Macquarie shares rose 0.46% in
early trading on Thursday while the S&P/ASX 200 was up 0.95%. Wikramanayake, who oversaw a more-than doubling of the
bank's share price in her nearly eight years at the helm, is one of Australia's best paid company bosses and most
high-profile female chief executives. She was paid A$26.5 million in 2025, reinforcing Macquarie's reputation in
Australia as the "Millionaires Factory" as the bank's remuneration policy is closely aligned to executive
performance. The bank faced a shareholder revolt over executive pay at last year's annual general meeting, with Stevens
saying the board had reviewed existing remuneration agreements."The board took that feedback very seriously, and we've
worked hard over the past year to carefully address shareholder concerns," he said on Thursday.Macquarie did not
release details of Ward's pay package as CEO on Thursday.Macquarie's shares have climbed from A$124.93 in mid-2018
when her appointment was announced to A$254.93 as of Wednesday's close, outperforming a more than 40% rise in the
S&P/ASX 200 index over the same period.CHAIR ALSO SET TO RETIREStevens, a former Reserve Bank of Australia governor,
is due to retire next year and said succession planning was underway to find his replacement."I think we will be in good
shape, and I believe there are people on the board who are more than capable of doing the role," he said.In a
first-quarter trading update released on Thursday, Macquarie said its Commodities and Global Markets division's net
profit contribution had grown substantially, driven by increased income from commodities trading.The bank does not
release quarterly profit figures. Macquarie will hold its annual general meeting in Sydney on Thursday.Add as a Reliable
and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel)Read More News
onMacquarie GroupGreg WardShemara WikramanayakeAustralian investment bankexecutive pay (You can now subscribe to our
Economic Times WhatsApp channel)Read More News onMacquarie GroupGreg WardShemara WikramanayakeAustralian investment
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