Macquarie Taps Porsche Racer Greg Ward as New CEO

Ward joined Macquarie shortly after its 1996 listing, ascending to chief financial officer at age 29. During the 2008 financial crisis, he steered the firm through significant writedowns, earning a reputation for calculated risk management that mirrored his approach on the track. Dave Shylan, president of New South Wales Production Touring Cars, noted that Ward’s racing career required the same meticulous preparation and technical discipline he applied to banking.

His most notable contribution to the firm came in 2013, when he took charge of the retail banking division. At the time, the unit held less than 1% of the Australian mortgage market. By deploying a branchless, technology-driven model, Ward expanded the division to nearly A$200 billion in mortgages, capturing over 7% of the market. Analysts now view the unit as a serious challenger to the nation’s traditional lenders, including the fourth-largest, ANZ.

While Macquarie has grown into a global powerhouse across renewable energy and infrastructure, Ward’s leadership is expected to prioritize continuity. Investors have signaled approval of the transition, with shares remaining steady following the announcement. As portfolio manager Andy Forster of Argo Investments noted, the appointment suggests a future defined by steady management rather than radical shifts.