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Effective 30 Nov 18, Mr. Moore will retire and step down from the Boards of Macquarie Group Limited (MGL) and Macquarie Bank Limited (MBL) and the Board confirmed Nicholas Moore’s decision to retire as Managing Director and CEO of Macquarie Group. In his place they have unanimously decided to appoint Shemara Wikramanayake, currently Head of MAM and express confidence that Ms. Wikramanayake has the track record and understanding of Macquarie’s businesses and culture to successfully take Macquarie forward.
The leadership style is of the Macquarie model where power is pushed downwards from the top and executives are relied on to run their own businesses using their own relationships and their own expertise and do their own deals. The job is to ensure that this entrepreneurial culture is tempered with strong guidance and accountability for Moore and his senior leaders.
The group’s businesses have grown with profit up 15 per cent in last financial year at the back of business mix and ongoing ability to adapt to changing market conditions and client needs. Macquarie Group Limited (ASX:MQG) traded at a market price of $121.39 and has seen a decline of -$3.54 and a percentage change or decline of -2.8% as at July 26, 2018.
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