Macquarie confirms leadership handover as Wikramanayake sets November exit
Macquarie Group (ASX: MQG; ADR: MQBKY) has confirmed that Shemara Wikramanayake will retire as Managing Director and Chief Executive Officer, with Greg Ward, currently Head of Banking and Financial Services, appointed as her successor subject to the receipt of necessary approvals.
The announcement was made by Chair Glenn Stevens on 23 July 2026. Under the confirmed timeline, Wikramanayake will retire and step down from the Boards of Macquarie Group Limited and Macquarie Bank Limited effective 6 November 2026, with Ward appointed to both Boards effective 7 November 2026.
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The transition at a glance
The table below summarises the key details of the leadership handover for quick reference.
| Detail | Outgoing CEO | Incoming CEO |
|---|---|---|
| Name | Shemara Wikramanayake | Greg Ward |
| Effective date | Steps down 6 November 2026 | Appointed 7 November 2026 |
| Current role | Managing Director & CEO | Head of Banking and Financial Services |
| Tenure with Macquarie | Almost four decades | Joined 1996 |
A decorated tenure comes to a close
Wikramanayake will step down after eight years as CEO and almost four decades with the company. According to the Board, she steered Macquarie through expansion into new markets and the dislocation of the COVID pandemic, while significantly enhancing recognition of the firm’s brand and the value it brings to global clients and communities.
Chair Glenn Stevens thanked Wikramanayake on behalf of the Board, describing her contribution in the following terms.
Glenn Stevens, Chair
“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. Over her last eight years as CEO, and for almost four decades with the company, Shemara has steered Macquarie through expansion into new markets, the dislocation of the COVID pandemic, and significantly enhanced recognition of our brand and the value we bring to global clients and communities.”
The Board characterised her period at the helm as a “ground-breaking tenure” as it turned its attention to the transition ahead.
Who is Greg Ward?
Ward brings a long internal track record to the role, having spent three decades at the firm across senior finance and operating positions. His career milestones at Macquarie include:
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Joined Macquarie in 1996, the year the organisation became publicly listed
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Served as Global Chief Financial Officer for 14 years
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Appointed Deputy Managing Director of Macquarie Group
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In 2013, became Head of Banking and Financial Services, leading the repositioning of the business across Australian personal banking, business banking and wealth management
The Banking and Financial Services division that Ward has led since 2013 recorded deposit growth of 6% and home loan growth of 7% in Q3 FY26, even as margin compression weighed on the segment, reflecting the scale of the franchise he built before stepping up.
- Has worked alongside Wikramanayake for 30 years
Ward acknowledged the appointment and the position he inherits.
Greg Ward, incoming Managing Director and CEO
“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 CEO succession means for investors
In this case, Ward is a 30-year internal executive with prior experience as Global Chief Financial Officer and Deputy Managing Director.
The investment case: continuity and momentum
The Board has positioned the handover as building on existing strength, with Ward noting that each of Macquarie’s businesses is “performing strongly.” Stevens said the Board sought an experienced candidate to lead the firm through its “next phase of growth.”
Wikramanayake expressed confidence in her successor, pointing to their long working relationship and Ward’s professional record.
Shemara Wikramanayake, outgoing Managing Director and CEO
“Looking forward, I take confidence in the strength of the team, and particularly in Greg’s ability to build on the legacy of our six decades of history. 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.”
For MQG shareholders, the central takeaway is a smooth leadership pipeline intended to preserve the firm’s culture of, in Wikramanayake’s words, “identifying opportunities and taking accountability for delivering on them.”
What happens next
The confirmed sequence of events set out in the announcement is as follows:
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23 July 2026 — succession announced by the Board
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6 November 2026 — Wikramanayake retires and steps down from the Boards of Macquarie Group Limited and Macquarie Bank Limited
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7 November 2026 — Ward appointed to both Boards and assumes the CEO role
The appointment remains subject to the receipt of necessary approvals, and the announcement does not disclose any financial results, remuneration details, or guidance.
With the transition mapped out well in advance, the Board has expressed its confidence that Macquarie is positioned to move into its next phase of growth under Ward’s leadership.
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