Macquarie Group has announced the appointment of Greg Ward as its new chief executive officer, replacing Shemara Wikramanayake who has stepped down from the role. Ward, a 25-year veteran of the Australian financial services group, takes the helm with immediate effect, the company confirmed on Thursday.
Wikramanayake, who led Macquarie through a period of significant expansion and record profits, will remain with the firm in an advisory capacity for a transitional period. The board praised her leadership, particularly during the post-pandemic recovery and the recent period of elevated interest rates.
Greg Ward was most recently head of Macquarie's commodities and global markets division, a unit that has been a major profit driver. Analysts described his elevation as a 'safe pair of hands' appointment, emphasising continuity rather than strategic upheaval. 'Ward knows the business inside out, and markets will take comfort from that,' one Sydney-based analyst commented.
For UK investors and pension holders, the change at the top of Macquarie carries implications given the group's substantial presence in British infrastructure, energy, and asset management. Macquarie owns stakes in a range of UK assets, including airports, renewable energy projects, and transport networks, through its specialist funds.
The FTSE 100 was little changed on the news, with Macquarie's London-listed shares trading flat in early afternoon dealings. The broader market remained focused on domestic economic data and the Bank of England's rate path, with the FTSE 100 at 8,215.6 points, down 0.1% on the day.