Australia’s biggest investment bank Macquarie Group has its first female CEO.
Shemara Wikramanayake will replace Nicholas Moore, who will end a 10-year tenure as managing director and chief executive when he steps down in November.
Wikramanayake, who is currently group head of Macquarie Asset Management, has also been appointed to the board of Macquarie Bank Ltd.
Moore said he had worked with Ms Wikramanayake for more than 30 years and was confident he was leaving the company “in a strong position and in safe hands”.
Wikramanayake joined Macquarie in 1987 and has worked for the group in six countries and across several business lines.
In a statement, Ms Wikramanayake said she was honoured to take on the role.
“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,” she said.
The announcement was made prior to Macquarie’s annual general meeting on Thursday.
Macquarie has maintained its outlook for 2019 fiscal year earnings to be in line with the previous year.