Macquarie has announced Greg Ward, head of banking and financial services at the firm, will be appointed as chief executive later this year.

He will take over from Shemara Wikramanayake, who has served as chief executive for eight years and worked at the Australian investment bank for almost four decades.

Wikramanayake will formally retire and step down from the bank’s board on 6 November, with Ward taking on the role effective 7 November.

Ward has worked at Macquarie since 1996, serving for 14 years as global chief financial officer and taking on his current role in 2013.

Glenn Stevens, chair at Macquarie Group, paid tribute to Wikramanayake’s leadership of the organisation, noting that she has achieved sustained growth and expanded the firm across new markets.

“In considering the transition from Shemara’s ground-breaking tenure, the Board is pleased to have an experienced candidate of Greg’s calibre to lead Macquarie through its next phase of growth and looks forward to working with him as he brings his global experience and proven ability as a business and technology leader to build on this momentum in the years ahead,” he said.

Commenting on his appointment, Ward said: “I’m honoured to be asked by the Board to succeed Shemara as Macquarie CEO. Shemara leaves Macquarie incredibly well positioned, with each of our businesses performing strongly. 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.”

In its full-year 2026 report, Macquarie reported 4.847 billion Australian dollars net profit, up 30 per cent year-on-year. Banking and financial services, overseen by Ward, saw a 17 per cent increase in net profit, offset slightly by increased technology expenses the firm said would “support business growth and scalable operations”.

---