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Shemara Wikramanayake

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Shemara Wikramanayake
Born1962
England
NationalityAustralian
EducationAscham School
Harvard Business School
Alma materUniversity of New South Wales
Occupation(s)Managing Director
Non-Executive Director
Years active1987 - present
OrganizationMacquarie Group
Known forFirst female Group CEO of Macquarie Group. (2020)

Shemara Wikramanayake (born 1962) is an Australian businesswoman. She embarked on a career as a lawyer and then as a banker. In 2018, she became the Managing Director and CEO of Macquarie Group Ltd. She has advocated to increase renewable energy production and has also called on the governments to quadruple renewable energy production by 2030 with the intention to minimize the global effects of climate change.[1][2][3]

Wikramanayake received a total of $A23.7 million in compensation in 2022, making her the highest paid CEO in Australia for the second year in a row.[4][5]

Career

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Wikramanayake worked as a corporate lawyer at Blake Dawson Waldron before joining Macquarie Group Ltd in 1987.[6] She headed Macquarie's corporate advisory office in New Zealand and she was also instrumental in setting up corporate advisory offices in Hong Kong and Malaysia. She worked with Macquarie Capital for nearly 20 years and was appointed as the head of the Macquarie Asset Management in 2008 and headed the asset management arm of the company for more than a decade.[7]

In December 2018, she replaced Nicholas Moore as Managing Director/CEO of Macquarie Group. Prior to this, Wikramanayake was the group head of Macquarie Asset Management.[8] She also went onto become the first female CEO of Macquarie Group and also turned out to be the sixth CEO of Macquarie Group.[9]

In 2018, she was appointed as the Commissioner of the Global Commission on Adaptation, a commission which was initiated by the World Bank to implement and accelerate climate adaptation action plan. In 2019, she was appointed to the UN's Climate Finance Leadership Initiative by Michael Bloomberg.

She is the only female CEO among Australia's 20 biggest companies by market value[8] and the first Asian-Australian woman to head an ASX 200 listed company.[10] In 2019, she also entered the record books as the first woman ever to become Australia's top earning CEO.[11]

She was ranked 29th in the list of Most Powerful Women in the World for the Year 2020 by Forbes.[12] She was ranked 24th in the list of Most Powerful Women in the World for the Year 2021 by Forbes.[13][14] She was also named as one of Fortune's Most Powerful and Influential Women in a roundup of global female business leaders segment. She was ranked 9th on Fortune's list of Most Powerful Women in 2023.[15]

She was also one of the speakers who attended the 2021 United Nations Climate Change Conference which was held in Glasgow and she spoke about the mobilizing private climate finance for emerging markets.[16][17] Her presence at the Glasgow G20 International Conference on Climate burnished her reputation and emphasized her green credentials while she was also seated next to Australian Prime Minister Scott Morrison. She was initially implied as the de facto leader of Australian delegation during the COP26 summit as rumours started circulating that Morrison would not be probably attending the COP26 conference.[18]

She was also named as of The Australian Financial Review Business People of the Year for 2021 in recognition of her leadership prowess amid the COVID-19 pandemic related uncertainties.[19]

She received $16.39 million in compensation in 2021. This coincided with Macquarie recording a $1.3 billion profit in the last quarter of 2021.[20]

She also provides advice and consultancy on green technology investment to the Government of Australia.[21]

She was also appointed as the co-chair of the Climate Finance Leadership Initiative in India.[22][23]

Personal life

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She was born in England, where her Sri Lankan father was a doctor.[24] Her father Ranji had graduated from the medical school in 1958 and alongside his wife Amara, he moved to England for further training in medicine in 1958. The family faced major constraints and difficulties during their brief stay in England and were forced to flee the country soon after allegations were made against her grandfather over the breach of money control laws.[25] Her family also said that they had experienced racism in England.[26]

Wikramanayake attended a state school in London before the family moved to Australia, where she went to Ascham School.[6] She moved to Australia at the age of 14 along with her family in the 1970s and the family had only around $200 with them when they reached Australia. In 2018, in an interview with Australian Financial Review her father Ranji Wikramanayake recalled their life in Sri Lanka and said that they had had a privileged life in Sri Lanka but migrated to Australia after some hard times. The Wikramanayake family settled in Australian city Sydney in 1975 and Ranji was offered a part-time job at the Royal Prince Alfred Hospital.[26]

She achieved a Bachelor of Commerce and Bachelor of Law from the University of New South Wales in 1985.[6] and later completed the Advanced Management Program at Harvard Business School in 1996.[27]

References

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  1. ^ Grieve, Charlotte (5 October 2021). "'Reduce bottlenecks': Macquarie boss wants to up the ante on renewables". The Sydney Morning Herald. Retrieved 10 February 2022.
  2. ^ "Cut red tape to boost green energy, says Macquarie boss". Australian Financial Review. 5 October 2021. Retrieved 10 February 2022.
  3. ^ "'Normalise as the year progresses': Macquarie CEO Shemara Wikramanayake on Australia's economic recovery". Women's Agenda. 5 May 2021. Retrieved 10 February 2022.
  4. ^ "Revealed: Australia's 50 highest-paid CEOs in 2022". Australian Financial Review. 8 December 2022. Retrieved 9 December 2022.
  5. ^ "Red-hot Macquarie chases $106trn prize". Australian Financial Review. 8 February 2022. Retrieved 10 February 2022.
  6. ^ a b c Flood, Chris (4 December 2017). "Shemara Wikramanayake has 'never sold a Macquarie share in 30 years'". Australian Financial Review. Retrieved 26 July 2018.
  7. ^ "Shemara Wikramanayake". Forbes. Retrieved 10 February 2022.
  8. ^ a b Steffens, Miriam (26 July 2018). "Nicholas Moore to retire as Macquarie CEO as Wikramanayake steps up". Sydney Morning Herald. Retrieved 26 July 2018.
  9. ^ "Macquarie Group appoints first female chief executive".
  10. ^ Blakkarly, Jarni (26 July 2018). "Shemara Wikramanayake: Who is the Macquarie Group's first female CEO?". SBS News. Retrieved 26 July 2018.
  11. ^ "Shemara Wikramanayake tops Australia's highest-paid CEO list". www.adaderana.lk. Retrieved 10 February 2022.
  12. ^ "Shemara Wickramanayake of Sri Lankan descent among Forbes 100 most powerful women". NewsWire. 9 December 2020. Retrieved 10 February 2022.
  13. ^ "The World's 100 Most Powerful Women 2021". Forbes. Retrieved 10 February 2022.
  14. ^ "Shemara Wikramanayake | 2021 Most Powerful Women International". Fortune. Retrieved 10 February 2022.
  15. ^ "Most Powerful Women". Fortune.
  16. ^ Shemara Wikramanayake, speaking at the G20 International Conference on Climate | Macquarie Group, retrieved 10 February 2022
  17. ^ "United Nations Climate Change Conference - COP26 | Macquarie Group". Macquarie. Retrieved 10 February 2022.
  18. ^ "Macquarie to fill the void at COP26". Australian Financial Review. 7 October 2021. Retrieved 10 February 2022.
  19. ^ "Shemara Wikramanayake, the optimist guiding Macquarie". Australian Financial Review. 17 August 2021. Retrieved 10 February 2022.
  20. ^ "Macquarie CEO keeps the machine humming". Australian Financial Review. 9 December 2021. Retrieved 10 February 2022.
  21. ^ "Shemara Wikramanayake | 2020 Most Powerful Women International". Fortune. Retrieved 10 February 2022.
  22. ^ "Meet The Members Of Climate Finance Leadership Initiative (CFLI) India". planet.outlookindia.com. Retrieved 10 February 2022.
  23. ^ "Wikramanayake to lead billion-dollar push for green energy in India". Australian Financial Review. 2 September 2021. Retrieved 10 February 2022.
  24. ^ "British-born Sri Lankan-Australian Wikramanayake appointed CEO, Macquarie Group". TSL - The Times of Sri Lanka (Published in Canada) - All Rights Reserved (Editor: Upali Obeyesekere). 28 July 2018. Retrieved 16 July 2020.
  25. ^ "Aussie woman earning $315k a week". news.com.au. 8 February 2022. Retrieved 10 February 2022.
  26. ^ a b "The rise, fall and rise of Macquarie bank's first family". Australian Financial Review. 21 September 2018. Retrieved 10 February 2022.
  27. ^ "Shemara Wikramanayake | UNSW Law".
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