Shemara Wikramanayake will step down as CEO of Macquarie Group in November, holding 1.47 million shares in the company worth approximately A$373 million. She leaves after four decades at the same bank, having never sold a single share received as compensation. But the news that matters most to the energy sector is something else entirely: before her departure, the executive publicly stated her hope that Macquarie will move into nuclear energy financing.
Wikramanayake’s stance comes as the Australian bank — long nicknamed the “millionaire factory” — is reassessing its energy exposure. Macquarie Capital already backs Paladin Energy, a company specialising in uranium mining and production for nuclear power generation. That support signals the group’s path toward nuclear is no longer purely theoretical. Having earned between A$24 million and A$30 million per year and serving as Australia’s highest-paid female executive for multiple years running, her words carry real institutional weight — even on the way out.
The Australian context matters here. The nuclear debate in the country has reached a new pitch after the opposition proposed building atomic plants, including small modular reactors, prompting the formation of a dedicated parliamentary committee in 2024. Major financial players are watching closely. On the global stage, the International Energy Agency projects that worldwide clean energy investment will hit $3.3 trillion in 2025, with $2.2 trillion earmarked for renewables, nuclear and storage — twice the amount flowing to fossil fuels.
Macquarie has already launched funds focused on the energy transition, including the Macquarie Energy Transition Infrastructure Fund, which targets low-carbon infrastructure. Adding nuclear to that mix would be consistent with the group’s trajectory: over recent years, it has built deep expertise across energy, commodities and infrastructure. The real question is whether the incoming CEO will act on Wikramanayake’s direction or simply continue along the existing roadmap.
Whoever takes the helm will face a concrete decision. Nuclear is attracting private capital at an unprecedented pace globally, and a bank with Macquarie’s allocation capabilities could become a major player in financing new atomic projects — from SMRs to large-scale plants. The outgoing CEO’s endorsement is not a symbolic gesture: it is a clear signal of intent, aimed squarely at those who follow.
