Macquarie Group has confirmed a leadership transition at the top of the organisation, with long-serving chief executive Shemara Wikramanayake (pictured left) set to retire and Greg Ward (pictured right), currently head of banking and financial services, appointed as her successor.
Macquarie Group chair Glenn Stevens announced the change on 23 July, with Wikramanayake stepping down from her role as managing director and CEO, and from the boards of Macquarie Group and Macquarie Bank, effective 6 November. Ward will join both boards the following day, subject to the necessary regulatory approvals.
Wikramanayake has led Macquarie for eight years and has been with the group for almost four decades. Stevens credited her tenure with steering the organisation through international expansion, the disruption of the COVID-19 pandemic, and a strengthened global brand.
"The board extends its heartfelt thanks to Shemara, who leaves Macquarie in a strong position, with sustained growth across each of our diverse businesses and a highly capable senior team," Stevens said in a media release.
Wikramanayake pointed to her successor's long history with the group, having worked alongside him for three decades.
"We have worked together for 30 years, and his track record, leadership and integrity make him an excellent candidate to be Macquarie's next CEO," she said.
Ward joined Macquarie in 1996, the same year the group listed on the ASX, and spent 14 years as global chief financial officer before becoming deputy managing director. He has led the banking and financial services division since 2013, a period in which the unit expanded into a significant competitor across Australian personal banking, business banking, and wealth management — the division most directly relevant to Macquarie's broker-facing lending business.
That division has become one of the fastest-growing mortgage books in the country. Macquarie's FY26 results, reported in May, showed home loans up 28% to $181.3 billion, with more than 95% of originations coming through the broker channel.
Speaking to the scale of what he's inheriting, Ward acknowledged the strength of the businesses ahead of him.
"Shemara leaves Macquarie incredibly well positioned, with each of our businesses performing strongly," he said. "I look forward to working with the board, management and our entire Macquarie team to build on Shemara's legacy for the benefit of all of our stakeholders."
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