Macquarie will transfer its top executive role from Shemara Wikramanayake to Greg Ward in November 2026, ending an eight-year CEO tenure and nearly four decades at the company. The change matters because Ward will take charge of a global financial services group after a year of higher profit across its major businesses.
Key Takeaways
- Macquarie announced the leadership change in Sydney on July 23, 2026.
- Wikramanayake will retire and leave both Macquarie boards on November 6.
- Ward is scheduled to become CEO on November 7, subject to required approvals.
- Macquarie reported A$4.847 billion in FY2026 net profit, up 30 percent.
- Ward joined the company in 1996 and has led Banking and Financial Services since 2013.
Macquarie has set a firm timetable for its first chief executive transition since 2018. Wikramanayake, the company’s first female CEO, will step down on November 6. Ward will assume the position the following day if the necessary approvals are received.
The decision places a longtime internal executive in charge of a company operating across 30 markets. It also closes a tenure that included expansion into new markets, the disruption of the pandemic and changing conditions across banking, commodities and asset management.
The transition adds another example to the broader discussion surrounding female CEO leadership at established global companies, where leadership changes are often assessed alongside financial results and operating priorities.
Macquarie Sets a November CEO Handover
Macquarie Chair Glenn Stevens announced the succession plan on July 23. The company said Wikramanayake will retire as managing director and CEO and step down from the boards of Macquarie Group Limited and Macquarie Bank Limited effective November 6.
Ward, currently deputy managing director and head of Banking and Financial Services, is scheduled to join both boards and become managing director and CEO on November 7. His appointment remains subject to the receipt of required approvals.
The one-day sequence gives the company a defined transfer of authority. It also signals that the board has chosen continuity through an executive who has worked across Macquarie’s financial management, banking and senior leadership functions.
Wikramanayake publicly supported the selection.
“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.”
The statement places their long working relationship at the center of the succession story. Rather than selecting an outside executive, the board chose a leader with direct knowledge of the company’s operating model, regulatory responsibilities and Australian banking division.
Macquarie has not described the change as a broader restructuring. The announcement instead presents the appointment as an internal succession designed to maintain continuity across the company’s major business areas.
Wikramanayake Ends Her Tenure After Strong FY2026 Results
Wikramanayake joined Macquarie in 1987 and became managing director and CEO in late 2018. Before taking the top role, she worked in six countries and held positions across several business lines.
Her earlier responsibilities included establishing and leading corporate advisory offices in New Zealand, Hong Kong and Malaysia. She also helped establish infrastructure funds operations in the United States and Canada before spending about a decade leading Macquarie Asset Management.
Her 2018 appointment made her Macquarie’s first female chief executive. Her planned departure will place renewed attention on female leadership in finance and the representation of women in senior roles at major financial institutions.
The leadership change follows a stronger fiscal year for the company. For the 12 months ended March 31, 2026, Macquarie reported net profit of A$4.847 billion, a 30 percent increase from the previous year.
Net operating income rose 13 percent to A$19.477 billion. Return on equity increased to 14 percent from 11.2 percent, while assets under management stood at A$722.1 billion.
Macquarie reported 19,124 employees and operations in 30 markets. Those figures illustrate the size and international reach of the organization Ward is expected to lead.
Each of the company’s four major business areas recorded a higher net profit contribution during FY2026. Commodities and Global Markets contributed A$4.221 billion, up 49 percent from the prior year.
Macquarie Asset Management contributed A$2.602 billion. Banking and Financial Services contributed A$1.610 billion, while Macquarie Capital contributed A$1.491 billion.
The company also generated income across several regions. The Americas accounted for 31 percent of FY2026 net operating income, compared with 32 percent from Australia and New Zealand. Europe, the Middle East and Africa represented 28 percent, while Asia accounted for 9 percent.
The geographic mix makes the succession relevant beyond Australia. Ward will oversee a company whose results depend on multiple business lines and international markets rather than a single domestic banking operation.
Greg Ward Brings Three Decades of Internal Experience
Ward joined Macquarie in 1996, the year the organization became publicly listed. He later served as global chief financial officer for 14 years before becoming deputy managing director in 2011.
He also served as CEO of Macquarie Bank from 2011 to 2013. In 2013, he became head of Banking and Financial Services, which provides personal banking, business banking and wealth management products and services in Australia.
That background gives Ward experience in groupwide financial management and customer-facing banking operations. Banking and Financial Services increased its net profit contribution by 17 percent in FY2026, making it one of four major business areas that reported annual growth.
His promotion reflects a succession model based on internal experience. Ward has worked alongside Wikramanayake for 30 years and has held positions involving financial oversight, technology, banking operations and senior management.
Ward will continue leading Banking and Financial Services before his scheduled appointment. Wikramanayake will remain CEO through November 6, allowing the two executives to complete the handover before the formal transfer of authority.
For Macquarie, the central development is a leadership transition rather than an announced change in corporate direction. The company enters the handover with higher FY2026 profit, international operations and a successor drawn from its senior executive team. The remaining formal step is the completion of the required approvals before Ward’s November 7 start date.
Frequently Asked Questions
When Will Shemara Wikramanayake Step Down?
Wikramanayake will retire as managing director and CEO on November 6, 2026. She will also leave the boards of Macquarie Group Limited and Macquarie Bank Limited on that date.
Who Will Become Macquarie’s Next CEO?
Greg Ward is scheduled to become Macquarie’s managing director and CEO on November 7, 2026, subject to required approvals. He currently serves as deputy managing director and head of Banking and Financial Services.
Why Is Wikramanayake’s Tenure Significant?
Wikramanayake became Macquarie’s first female CEO in late 2018. She joined the company in 1987 and held senior positions across several countries and business areas before becoming chief executive.
What Experience Does Greg Ward Bring?
Ward joined the company in 1996 and served as global chief financial officer for 14 years. He has been deputy managing director since 2011 and head of Banking and Financial Services since 2013.
How Did Macquarie Perform in FY2026?
Macquarie reported A$4.847 billion in net profit for FY2026, a 30 percent increase from the previous year. Net operating income rose 13 percent to A$19.477 billion.
