The incoming chief executive has already transformed the banking division into a technology heavyweight which has taken market share from rival lenders.

The chief of the “millionaires’ factory” will depart after close to eight years in the job, to be replaced by the head of its banking arm, Greg Ward.

The chief of the “millionaires’ factory” will depart in November with a significant personal treasure chest built up over nearly four decades with the company.

Macquarie Group has appointed Greg Ward as its new chief executive officer. He will replace Shemara Wikramanayake, who is retiring from the position. Ward, a long-serving…