Macquarie builds bench strength under Shemara as succession looms
The financial services giant has revealed it is preparing internal candidates to succeed Shemara Wikramanayake when she eventually exits.
Macquarie Group managing director Shemara Wikramanayake has confirmed succession planning is underway for when she eventually surrenders the reins at the $76 billion investment house.
As departing CFO – and one-time Macquarie heir – Alex Harvey handed down his final half year results, Wikramanayake revealed her own eventual departure was something she and the board were preparing for internally.
“In due course, we want me to be succeeded, and we're building a depth of candidates under me and capability…It’s just like the great precedent Alex has set of bringing Frank [Kwok] over into his deputy [CFO] role and grooming him so that Alex could be freed up," she said in an interview with Capital Brief.
There has been persistent speculation in the market around how much longer Wikramanayake – who enters her eighth year in the role next month – will stick around. When asked on Friday, she clarified she would remain while it was “in Macquarie’s interest” for her to do so.
