Ambition and caution as Macquarie turns to a safe pair of hands
Macquarie Group has named Greg Ward as its seventh CEO in nearly 60 years, a move that investors and racing industry veterans describe as combining ambition with caution. Ward, who joined the bank in 1996 and became CFO at 29, is known for building Macquarie's retail banking division into Australia's fifth-largest mortgage lender with nearly A$200 billion in loans and over 7% market share. His background as a Porsche racer—characterized by few wins but few mishaps—is seen as reflecting his leadership style. The announcement came amid geopolitical and economic disruption, and Macquarie shares were little changed, signaling market confidence in continuity. Ward succeeds a CEO who oversaw expansion into infrastructure funds, renewable energy, and global commodities trading, but Ward's focus has been on the domestic retail banking business, which he grew through competitive rates and technology-driven approvals.
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