Do we like Macquarie Group?
Australian investment bank and asset manager (infrastructure, commodities, banking, markets), based in Sydney.
Our score: 5 out of 10. Mixed. It's a big, capable financier with real green-energy investing. But it has repeated regulatory fines and keeps being criticised over fossil fuel finance.
Macquarie is Australia's investment banking giant, listed on the ASX. Shemara Wikramanayake took over as CEO in late 2018 and, per the company, retires in November 2026. Greg Ward, who has been there since 1996 and was CFO for 14 years, takes over.
On the rule-breaking side, a NSW Supreme Court ordered its Macquarie Securities unit to pay A$35 million over short-sale misreporting, and ordered an independent review of its systems. In 2024 the Federal Court fined Macquarie Bank A$10 million for failing to stop unauthorised fee withdrawals from customer accounts.
On climate, it's a split picture. Campaign group Market Forces says Macquarie tripled its oil and gas financing, and shareholders pushed a climate resolution at the 2025 AGM. Macquarie recommended they vote it down. A 2023 assessment also called it the biggest green-energy investor among the Big 5.
So we'd give it a middle score. It's a serious, well-run business, but the repeat compliance failures and the fossil-fuel criticism stop us from giving it a high one.