Macquarie’s highest paid employee is leaving the bank to pursue “new opportunities”. If those opportunities aren’t moving to the Gold Coast and working on his tan, there’s no helping the guy.

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Macquarie banker who earned more than Jamie Dimon steps down

Macquarie’s head of commodities and global markets Nick O'Kane, who earned more than Wall Street bank chiefs and his own CEO, is stepping down later this month. The bank’s shares fell about 2% following the news.

O’Kane’s unit delivered exceptionally strong results, driving a 59% pay rise in the year through March 2023. His remuneration for the period was A$57.6 million ($37.6 million), according to Macquarie’s annual report. The bank’s CEO received A$32.8 million. Citigroup’s Jane Fraser took home $24.5 million in 2022, while JPMorgan’s Jamie Dimon earned $34.5 million.

O’Kane is leaving to “pursue opportunities outside Macquarie”, according to a statement from the bank.

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