Macquarie CEO Wikramanayake to retire; profit from CGM unit rises

• Wikramanayake led Macquarie through expansion into new markets, the COVID-19 pandemic, and significantly enhanced the company's brand recognition over her eight-year tenure as CEO
• Net profits from the commodities and global markets segment increased, though contribution from Macquarie Asset Management declined due to divestment of North American and European public investments business
• Greg Ward, currently leading Banking and Financial Services, has been named as Wikramanayake's successor effective November 6

Macquarie CEO Wikramanayake to Retire; Commodities Unit Profit Climbs

Macquarie Group, Australia's largest investment bank, announced Thursday that Chief Executive Shemara Wikramanayake will retire on November 6, 2025, after eight years in the role and nearly four decades with the company. Greg Ward, currently Head of Banking and Financial Services, has been named as her successor.

Financial Performance:

The company reported increased net profits from its Commodities and Global Markets (CGM) segment, though specific figures were not disclosed as Macquarie does not release quarterly profit details. However, the contribution from Macquarie Asset Management declined due to the divestment of its North American and European public investments business.

Leadership Transition:

Chair Glenn Stevens praised Wikramanayake's tenure, highlighting her leadership through significant challenges including expansion into new markets, the COVID-19 pandemic, and enhanced global brand recognition. Her nearly 40-year career with Macquarie positions this as a major leadership transition for the institution.

Market Context:

The CEO succession comes at a time when the commodities and global markets division is showing strength, though asset management faces headwinds from recent divestitures. The announcement provides clarity on leadership continuity, with Ward's appointment ensuring an internal succession from within the banking and financial services division.

The November transition date gives Macquarie several months to ensure a smooth handover during a period of mixed divisional performance across its business units.