Macquarie Group has reported a decrease in net profit contribution for the first quarter of its 2026 financial year compared to the same period last year. The decline was attributed to lower contributions from Macquarie Asset Management (MAM) and Commodities and Global Markets (CGM), despite improved performances in Banking and Financial Services (BFS) and Macquarie Capital.
Shemara Wikramanayake, Managing Director and Chief Executive Officer of Macquarie Group, stated that the group's financial position continues to exceed regulatory requirements with a capital surplus of $A7.6 billion as of June 30, 2025. However, this is a reduction from $A9.5 billion at the end of March 2025 due to dividend payments and other factors.
In November 2024, Macquarie's Board approved an extension of its on-market share buyback program by up to $A2 billion for another year. As of July 23, 2025, $A1,013 million worth of shares had been acquired at an average price of $A189.80 per share.
The company also announced management changes with Alex Harvey stepping down as Chief Financial Officer by December 31, 2025. He will be succeeded by Frank Kwok starting January 1, 2026.
Looking ahead, Macquarie maintains a cautious approach given various market conditions including global economic trends and geopolitical events. Chair Glenn Stevens highlighted the company's focus on capital allocation and addressing regulatory issues while remaining committed to sustainability efforts.
"The Group delivered a profit of $A3.7 billion in FY25," Mr. Stevens noted during his address at the Annual General Meeting in Sydney.