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Macquarie Bank names new CEO

by Malavika Santhebennur4 minute read
Macquarie Bank CEO to retire

Macquarie has announced that it will welcome a new managing director and CEO following the retirement of Mary Reemst.

After 22 years with Macquarie, Mary Reemst has decided to retire from her role as managing director and CEO of Macquarie Bank Ltd (MBL), from the MBL board, from Macquarie Group Ltd (MGL) and MBL executive committees, effective 1 July 2021.

Ms Reemst, who has been on the executive committees for seven years, also serves as the chair of the Macquarie Group Foundation.

From 1 July 2021, and subject to regulatory approvals, Stuart Green will become managing director and CEO of MBL, and join the MBL board and MGL and MBL executive committees.

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Mr Green has been with Macquarie for 20 years, serving as group treasurer since August 2013.

Group reshuffles board

Macquarie Group and Macquarie Bank have also announced that Gordon Cairns will step down from both boards on 7 May 2021, after more than six years on the boards.

In November 2020, Mr Cairns had agreed to extend his tenure to “accommodate evolution of the boards”, which occurred with the appointment of Rebecca McGrath and Mike Roche in January 2021.

In addition, after 16 years with Macquarie, Martin Stanley has decided to step down as group head of Macquarie Asset Management and from the executive committee, effective 1 April 2021.

Mr Stanley, who has been on the executive committee for two years, will become chairman of Macquarie Asset Management and remain on the regional infrastructure fund investment committees and as chairman of the board of directors of the New York Stock Exchange-listed Macquarie Infrastructure Corp.

The asset manager has announced that Ben Way will become group head and join the executive committee.

Mr Way, who has been with Macquarie for 14 years and is a member of Macquarie’s management committee, currently leads the global alternatives division in Macquarie Asset Management and is also Macquarie Group’s Asia CEO.

Mr Way will continue to be based in Hong Kong.

[Related: Brokers report longer turnarounds at the big banks]

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Malavika Santhebennur

Malavika Santhebennur

AUTHOR

Malavika Santhebennur is a content specialist at Momentum Media, focusing on mortgages and finance writing.

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