Bank’s always been meritocracy, says first female CEO
MACQUARIE Group’s first female chief executive says her gender has never been an issue during her 30 years at Australia’s biggest investment bank.
Shemara Wikramanayake is set to replace Nicholas Moore, who will end a 10-year tenure as managing director and chief executive when he steps down in November.
Ms Wikramanayake, currently group head of the Macquarie Asset Management unit, says she hopes her elevation attracts more women to the notoriously male-dominated industry.
“In the 30 years I’ve been here, it’s always been a meritocracy,” she said yesterday.
“I’ve not found barriers; I find we try to allow the best people to do the best things and we try to also draw the best out of people.
“Having said that ... we, as an industry, are not attracting enough females in terms of allowing them to develop.
“We need to provide more flexibility.”
Ms Wikramanayake joined Macquarie in 1987 and has worked for the group in six countries and across several business lines. She was educated in Britain, Sri Lanka and Australia, has a commerce and law degree from the University of NSW, and has completed an advanced management program at Harvard University.
She took over Macquarie Asset Management in 2008 during the global financial crisis and has built it into the bank’s largest business unit.
Her predecessor said he was confident he was leaving the company “in a strong position and in safe hands”.
The announcement was made yesterday prior to Macquarie’s annual general meeting, at which it maintained its outlook for full-year earnings in line with its financial year 2018 results, when it made a $2.56 billion profit.
Macquarie’s shares dropped 2.6 per cent yesterday to close at $121.70.