Macquarie Bank announced this morning that managing director and CEO Nicholas Moore will retire in November.
The Macquarie board announced an internal appointment to succeed Moore. Shemara Wikramanayake, currently the Group Head of Macquarie Asset Management, will assume the role of CEO when Moore retires.
Moore will retire on November 30 after delivering the group’s first half results.
Macquarie is holding its annual general meeting this morning, and announced quarterly results which the bank said fell in line with expectations.
Wikramanayake joined Macquarie in 1987, and was appointed Head of Macquarie Asset Management in 2008, at the same time as Moore became CEO.
She led the establishment of corporate advisory offices in New Zealand, Hong Kong and Malaysia, as well as the infrastructure funds management business in the US and UK.
“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,” Wikramanayake said.
“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.”
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.