Macquarie’s CEO faces a $7.6 million pay cut as the company’s profits decline.

Macquarie’s top executives experienced a notable reduction in their compensation packages this fiscal year, reflecting a cooling commodities market for the investment giant. Chief Executive Shemara Wikramanayake saw her pay decline from $32.8 million to $25.2 million. Former Macquarie rainmaker Nick O’Kane’s earnings plummeted from $57.6 million in 2023 to $1 million this year, as he wasn’t eligible for the substantial profit share bonuses distributed after his resignation in March. Ben Way, the asset management boss, also saw a decrease, receiving an $11.3 million package.

Macquarie’s full-year net profit was reported at $3.5 billion, down 32 per cent from the previous year. The bulk of the profit was generated in the six months leading up to March, with a significant 49 per cent increase from the first half to the second half of the year.