Macquarie CEO Wikramanayake to Retire, Ward Named Successor

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Or sign-in if you have an account.Greg Ward speaks during a hearing before the House of Representatives economics committee in Canberra, Australia, on Nov. 29, 2019. Photo by Mark Graham /Bloomberg(Bloomberg) — Macquarie Group Ltd.’s Chief Executive Officer Shemara Wikramanayake will step down in November after eight years at the helm to be replaced by Greg Ward, who currently leads its banking and financial services division.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe decision, announced ahead of the company’s annual general meeting Thursday, will end the tenure of one of the country’s most high-profile CEOs. Wikramanayake steps down after one of the company’s most profitable years on record, as its core businesses spanning commodity trading and asset management to investment banking contributed to the results.The elevation of Ward signals the company’s desire to hire internally for its top ranks. He joined the business in 1996 and served as its global chief financial officer for 14 years before being appointed deputy managing director of the group.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try again“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,” chair Glenn Stevens said in a statement Thursday.Wikramanayake leaves Macquarie as its shares trade near record levels. The company’s stock is up around 25% this year and set a new high on Friday. She has returned an annualized 15.7% to shareholders since she became CEO in December 2018, according to data compiled by Bloomberg.She joined Macquarie in 1987 and has helped establish and lead corporate advisory offices in New Zealand, Hong Kong and Malaysia, and its infrastructure funds management business in the US and Canada. She spent more than a decade as head of Macquarie Asset Management prior to becoming CEO.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.