Nick O’Kane’s decision to step down as head of Macquarie’s commodities and global markets (CGM) division has come as a surprise in Sydney.
The decision was announced Tuesday at an operational briefing. His departure creates an obvious human-resources vacuum. Not below him, where he will be seamlessly replaced by Simon Wright, the current, respected head of CGM’s financial markets division, but rather in the other direction.
Shemara Wikramanayake has kept the Australian firm motoring along nicely since taking over as chief executive from Nicholas Moore in 2018; the bank’s share price is up a little over 17% since mid November.
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