Macquarie’s top executives have had their pay packets shrink this financial year. Chief executive Shemara Wikramanayake’s pay fell from $32.8 million to $25.2 million, as the commodities-fuelled bonanza cooled for the investment behemoth.

Former Macquarie rainmaker Nick O’Kane’s pay dropped from $57.6 million in 2023 to $1 million this year. O’Kane was not eligible for the hefty profit share bonuses doled out by Macquarie after he resigned in March. Asset management boss Ben Way also took a cut, taking home an $11.3 million packet.

On Friday, Macquarie reported a $3.5 billion full-year net profit, down 32 per cent on the previous year. Most of the profit was racked up in the six months to March. There was a 49 per cent increase from the first half to the second half of the year.

Macquarie announced a final ordinary dividend of $3.85 a share, 40 per cent franked, down from $4.50 a share last year. Shares in the company were trading 1.6 per cent lower at $185 a share about 11.30am AEST.

The company’s flagship asset management business posted a 48 per cent slump in net profit of $1.2 billion in the financial year, weighed down by lower asset sales in its green investments.

Meanwhile, the commodities and global markets business – which was Macquarie’s golden child last year, benefiting from exceptionally volatile commodity prices – remains the biggest net profit contributor for the company. However, its net profit contribution of $3.2 billion for fiscal 2024 was still 47 per cent lower compared to the exceptional 2023 financial year.

“The overall result reflected substantially lower inventory management and trading income from a strong prior year in North American gas and power, and a decreased contribution from commodities risk management, primarily in [Europe, the Middle East and Africa] gas and power,” the company said.

Wikramanayake said while Macquarie was facing ongoing economic uncertainty and subdued market conditions across the world, the overall business remained resilient.