With a US$38.8 million pay packet, Macquarie’s Nicholas O’Kane is Australia’s highest-paid executive.

Nicholas O’Kane, the head of commodities and markets at Macquarie Group, earned A$57.6 million (US$38.8 million) last year, making him the highest-paid executive in Australia. He surpassed all Australian CEOs in terms of pay, including his own CEO Shemara Wikramanayake.

Nicholas O’Kane was awarded total pay of A$57.6 million in the last financial year, up from A$36.2 million a year earlier. His total compensation bump is mainly due to a remarkable increase in his retained profit share, up to A$39.8 million from A$21.3 million a year earlier.

The hefty pay packet came after the division led by O’Kane drove Macquarie’s full-year earnings 10% higher to $5.2 billion in the year to March, as the division benefited from volatility in commodity markets.

The CEO of Macquarie Group Ltd., Shemara Wikramanayake, earned A$32.8 million (US$22.14 million) this year, an increase from the A$25.8 million she made in March 2022. Her retained profit share increased to A$25.6 million this year from A$20 million in March 2022.

It is believed to be among the highest incentive payments disclosed by an Australian-listed company. However, it did not reach the $264 million earned by Afterpay’s founders, Nick Molnar and Anthony Eisen, in 2021.

In 2022, Nicholas O’Kane received a higher salary than the CEOs of the largest banks in the US. Citigroup’s CEO, Jane Fraser, earned US$24.5 million, while JPMorgan Chase’s CEO, Jamie Dimon, earned US$34.5 million for that year.

Have you read?
Wealthiest Sports Owners in the World?
World’s Richest Actors And Their Net Worth.
World Richest Tennis Players And Their Net Worth.
Richest NFL (National Football League) Players.
Top CEOs in Singapore, 2023.
Ready to join the CEOWORLD magazine Executive Council– Find out if you are eligible to apply.

Add CEOWORLD magazine to your Google News feed.

Follow CEOWORLD magazine headlines on: Google News, LinkedIn, Twitter, and Facebook.

Thank you for supporting our journalism. Subscribe here.

For media queries, please contact: info@ceoworld.biz