Macquarie Group has announced that Shemara Wikramanayake, head of the investment bank’s asset management arm, will take over as the group’s first female chief executive following the retirement of Nicholas Moore in November. The appointment is a significant landmark for women in the global investment banking industry, where the most senior executive roles at the biggest banks continue to be dominated by men. Macquarie, which has a market capitalisation of A$41bn, has a flat management structure and a reputation for promoting internal talent. Wikramanayake said there were few women in leadership roles in the finance industry and that Macquarie was focused on addressing this issue. “We as an industry are not attracting enough females. In terms of allowing them to develop we need to provide more flexibility.”

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Financial Times