Macquarie Group announces new CEO as Shemara Wikramanayake prepares to retire

The Macquarie Group Ltd (ASX: MQG) share price is in focus today after the company announced that CEO Shemara Wikramanayake will retire in November 2026, with Greg Ward named as her successor. The board thanked Wikramanayake for her transformative eight-year tenure and highlighted Macquarie’s ongoing strong business performance.

What did Macquarie Group report?

• Shemara Wikramanayake retiring as CEO effective 6 November 2026
• Greg Ward, current Head of Banking and Financial Services, to become CEO effective 7 November 2026
• Ongoing strong performance across Macquarie’s diverse businesses
• Succession plan subject to necessary approvals

What else do investors need to know?

The announcement marks a major leadership change for Macquarie Group after nearly a decade under Wikramanayake’s leadership and almost 40 years of her service overall. The board credited her with driving Macquarie’s expansion into new markets and enhancing the group’s global brand and client impact, including navigating through the COVID pandemic.

Greg Ward brings vast experience to the role, having served as Macquarie’s Global CFO and Deputy Managing Director before becoming Head of Banking and Financial Services. Under his stewardship, the division grew to become a key player in Australian personal banking, business banking, and wealth management.

What did Macquarie Group management say?

Mr Greg 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.

What’s next for Macquarie Group?

The board has expressed confidence in a smooth leadership transition as Macquarie enters its next phase. With Ward at the helm, the focus is expected to remain on sustained performance and innovation across all business units.

Investors can anticipate strategic continuity, with Ward’s deep knowledge of the business and commitment to Macquarie’s culture aiming to support growth and deliver long‑term value.

Macquarie Group share price snapshot

Macquarie Group shares have outperformed the S&P/ASX 200 Index (ASX: XJO) over the past 12 months. During this time, the investment bank’s shares have risen around 13%, while the ASX 200 is up 1%.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Macquarie Group. The Motley Fool Australia has recommended Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.