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 executive, will take over the role on November 6. Investors view this appointment as a sign of confidence in the bank's strategy. The bank's chair, Glenn Stevens, is also scheduled to retire next year.

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 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…