The Macquarie Group has stated that Shemara Wikramanayake, head of the bank's asset management arm, would take over as the group's first female chief executive following the retirement of Nicholas Moore in November. The appointment is a significant moment for women in the global investment banking industry, where the most senior executive roles at the biggest banks continue to be dominated by men. The 30 year old veteran at the investment bank was considered by analysts as the frontrunner for the top job at the Australian investment bank, which has transformed its operations over the past decade to expand its annuity-style businesses, which generate recurring income.
Wikramanayake said she was in no rush to make major changes at Macquarie, which under Moore's decade-long tenure recovered from a big drop in profits following the 008 financial crisis to become one of the best performing investment banks over recent years. “I don't feel any urgency to change, not like when I stepped into the asset manager after the financial crisis. Nicholas leaves an amazing legacy. The position we have got genuinely does leave me in an enviable position,” she said. David Ellis, analyst at Morningstar, said investors were likely reacting to the change of leadership, given Moore's stellar performance as chief executive.
“We like the appointment and see no risk to Macquarie's very successful long-term strategy. Wikramanayake is the first female CEO of a major investment bank and asset manager, demonstrating Macquarie is leading the charge in executive diversity,” he said.
