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Macquarie announces CEO resignation

Macquarie announces CEO resignation

The non-major lender has announced the retirement of its managing director and CEO, Nicholas Moore, whose replacement has also been announced.

Macquarie Group chairman Peter Warne has today announced Nicholas Moore’s decision to retire as managing director and CEO of Macquarie Group, effective as of 30 November 2018.

Mr Moore will be replaced by Macquarie’s group head of asset management, Shemara Wikramanayake, who will also be appointed to the boards of Macquarie Group Limited and Macquarie Bank.

Following the announcement, Mr Warne said: “In considering the transition from Nicholas’ immensely successful decade as CEO of Macquarie, I’m delighted to have a candidate of Shemara’s calibre to take the group forward.

“Nicholas has been central to Macquarie’s growth and evolution over many years, transforming the group into the global, diversified business it is today.

“Shemara takes over a business with significant momentum and market-leading position and does so with the international track record, vision and strong sense of our unique culture to make this a very successful transition.”

Commenting on his retirement, the outgoing CEO said: “I have worked with Shemara for more than 30 years and I am reassured in deciding to retire later this year that I leave Macquarie in a strong position and in safe hands.

“I have been honoured to lead our teams through a period of unprecedented market change, profitable growth and many projects that have positively impacted our clients and the communities in which we operate around the world.

“Macquarie succeeds thanks to the opportunities that flow from the commitment and expertise of our people, and these are qualities that I’m confident will continue to flourish under the leadership of Shemara and the broader management team.”

Ms Wikramanayake added: “I am honoured to be asked by the board to succeed Nicholas as CEO of Macquarie.

“I have had the privilege of working with him for 30 years, including the last 10 with him as CEO.

“He leaves Macquarie in an outstanding position, having led the business to a record level of earnings, a robust funding and capital position, an excellent leadership team and solid momentum for the future. I look forward to working with the board, management and our entire Macquarie team to build on Nicholas’ remarkable legacy for the benefit of all our stakeholders.”

Ms Wikramanayake joined Macquarie in 1987 and worked with Mr Moore in corporate services and then in establishing Macquarie Capital, which at that time included advisory, infrastructure funds, corporate leasing and lending, and cash equities.

Ms Wikramanayake was appointed head of Macquarie asset management in 2008, when Mr Moore became the group CEO.

Since joining Macquarie, Ms Wikramanayake has worked in nine cities in six countries and across several business lines. This has included establishing and leading Macquarie’s corporate advisory offices in New Zealand, Hong Kong and Malaysia, and the infrastructure funds management business in the US and Canada.

Ms Wikramanayake also serves as chair of the Macquarie Group Foundation.

 [Related: Former HSBC boss to join Westpac board]

Macquarie announces CEO resignation
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