Macquarie has named its banking head, Greg Ward, as chief executive, succeeding Shemara Wikramanayake after her eight‑year tenure.

Ward, 58, will take the helm of the Australian asset management and trading business in November. He joined the group in 1996, served 14 years as group CFO and has led the banking division, turning the Australian retail arm into a growth engine.

Glenn Stevens, chair, praised Ward as having the “right combination of skills” after the banking division captured significant market share. Citi analyst Thomas Strong said the appointment would be “well received” and that the internal handover should be smooth. Ward’s record of expanding the Australian banking business and his experience overseas give confidence that Macquarie will keep its global focus—two‑thirds of revenue now comes from outside Australia.

Wikramanayake was the firm’s first female CEO and drove record profits through a boom in commodities trading, renewable energy and digital infrastructure. She earned A$26.5mn last year, making the role one of Australia’s most coveted. The company will defend its new auditor, KPMG, amid a recent ethics scare, while investors scrutinise executive pay after last year’s shareholder pushback. Shares rose 0.25 % on Thursday, adding a quarter to their year‑to‑date gain.