Macquarie Group’s Nick O’Kane earned a bumper $57.6 million for the year ending March 31, eclipsing the bank chief executive’s pay by approximately $25 million.
– came after his commodities and global markets division welcomed $6.01 million in net profit, a 54 per cent spike on the previous year, Macquarie Group’s annual report showed.
“[CGM’s result] reflected increased contribution across commodities, primarily from inventory management and trading and risk management activities,” chief executive Shemara Wikramanayake said.“Inventory management and trading increased substantially, driven by trading gains from regional supply and demand imbalances, primarily in North American gas and power markets.”
Ms Wikramanayake, meanwhile, earned $32.8 million this year, up from $25.8 million in March 2022. Her retained profit share increased to $25.6 million this year from $20 million in March 2022.– a record number despite a 47 per cent dip in its Macquarie Capital investment banking business. Total operating expenses hit $12.1 billion for the year-end, up 12 per cent from 2022, partially due to increased spend on wages.
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