Australia Briefing

Macquarie CFO Harvey to Step Down

Macquarie Completes Plan to Buy Shares for 2025 Profit Share — Photographer: Brent Lewin/Bloomberg

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By Ben Westcott and Ainslie Chandler

July 23, 2025 at 7:00 PM EDT

Good morning everyone, it’s Ben here in chilly Melbourne, here’s what’s making headlines today.

Today’s must-reads:
• Macquarie CFO stepping down
• Fortescue iron ore shipments hit quarterly high
• Australia to ease restrictions on US beef imports

Macquarie Chief Financial Officer Alex Harvey will step down effective December 31, the financial group announced alongside its first quarter trading update. Harvey will retire from mid-2026 after handing over to his successor Frank Kwok.