Macquarie Group Appoints Greg Ward as Next CEO

Macquarie Group announced that Shemara Wikramanayake will retire as CEO and Managing Director on November 6, 2026. The board appointed Greg Ward, the current Head of Banking and Financial Services and Deputy Managing Director, as her successor. The transition was announced during the company's 2026 Annual General Meeting in Sydney, and shares rose slightly following the news.

Wikramanayake leaves after nearly 40 years with the firm and eight years as CEO, during which time Macquarie's market capitalization grew from 39 billion to 98 billion. Her departure follows a record high share price of 258.41. She will exit with approximately 470 million in shares and deferred units, reflecting a remuneration model that distributes profits as equity.

Chair Glenn Stevens, who is also scheduled to retire next year, stated the board prioritized internal candidates to ensure agility and decisiveness. The appointment of Ward, a 30-year veteran, aims to maintain the company's strategy of prioritizing asset management and infrastructure investment over volatile investment banking fees. Stevens also confirmed that the group is reviewing KPMG's capability to deliver on a 69 million audit tender following a scandal, a process supported by an external investigation by the law firm Allens.