US Edition
Macquarie’s Day of Reckoning: Millionaires’ Factory Shareholders Draw the Line
SYDNEY, AUSTRALIA, JUL 24 – Shareholders and proxy firms criticize Macquarie for insufficient executive pay cuts despite compliance failures and a 4.4% share slump, with ASIC legal action ongoing.
- On July 24, 2025, Macquarie Group faced its first-ever remuneration strike when just over 25% of shareholders voted against the executive pay report.
- The strike followed ASIC's May legal action alleging 14 years of repeated, systemic misreporting of millions of short sales, which damaged market trust.
- At the annual meeting in Sydney, Chairman Glenn Stevens defended the bank's risk culture and earnings but acknowledged shareholder concerns over executive pay and compliance issues.
- Shemara Wikramanayake, the CEO awarded $24.03 million last year, saw her profit share fall 5%, reflecting some pay adjustments amid compliance challenges, while shares dropped about 4.6%.
- The strike signals intensified shareholder scrutiny of Macquarie's remuneration and governance, with the board promising to carefully consider concerns and impose pay impacts within this financial year.
Insights by Ground AI
Does this summary seem wrong?
9 Articles
9 Articles
Macquarie Shareholders Spurn Executives’ Pay as Pressure Mounts
More than a quarter of Macquarie Group Ltd. shareholders rejected the bank’s executive remuneration plan at an annual meeting Thursday, piling pressure on its board by increasing the risk of a confidence vote next year.
·United States
Read Full Article
Macquarie Group CFO exits amid investor backlash over executives’ eye-watering pay
Macquarie Group’s long-serving chief financial officer will leave the company, as the investment bank faces a shareholder backlash for not cutting executives’ eye-watering pay packets despite a series of compliance blunders.
Sydney Morning HeraldReposted by 
The Age
The AgeMacquarie Group cops historic backlash on executive pay
Macquarie chairman Glenn Stevens has conceded that some shareholders are not satisfied with the board’s decisions on executive pay, with the investment bank also reporting a dip in profits.
·Sydney, Australia
Read Full Article
Coverage Details
Total News Sources9
Leaning Left4Leaning Right3Center0Last UpdatedBias Distribution57% Left
Bias Distribution
- 57% of the sources lean Left
57% Left
L 57%
R 43%
Factuality
To view factuality data please Upgrade to Premium
