Incoming chief executive Greg Ward’s pay package hinges entirely on the future success of the millionaires’ factory. He needs to stack up against a formidable line-up of former CEOs.

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

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.

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…