Macquarie Group Ltd (ASX:MQG) has announced that Michael Carapiet, the executive chairman of its securities group and investment bank unit Macquarie Capital, will retire in July after 22 years with the company.
The Group Head of the two units, Roy Laidlaw, will replace Mr Carapiet in the role of executive chairman of Macquarie Securities and will continue as group head of Macquarie Capital.
The Head of Cash Equities Stevan Vrcelj has been appointed Group Head of Macquarie Securities.
Mr Carapiet’s departure follows the resignation of Macquarie Group’s chairman David Clarke last month who will be replaced by the company’s lead independent director Kevin McCann.
Macquarie Group generated a net profit of $411 million in the six months to 30 September 2010.
