July 23 (Reuters) – Australia’s Macquarie Group announced on Thursday that Chief Executive Shemara Wikramanayake will retire this year and reported higher net profits from its commodities and global markets segment.
Wikramanayake will step down as managing director and chief executive officer of the country’s top investment bank on November 6. Macquarie has named current Head of Banking and Financial Services Greg Ward as her successor.
“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,” said Chair Glenn Stevens.
The company, which does not disclose quarterly profit figures, said the contribution from Macquarie Asset Management dropped due to the divestment of the North American and European public investments business.
(Reporting by Sneha Kumar, Nikita Maria Jino and Shivangi Lahiri in Bengaluru; Editing by Pooja Desai)
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