The Australian investment banking group Macquarie has promoted markets chief Paul Plewman to regional CEO for Europe, the Middle East and Africa, taking over from David Fass after a seven year stint in the role.

Plewman, who has been with Macquarie since 2005 and has led the commodities and global markets business in Europe for the past 11 years, will now report directly to the bank’s chief executive Shemara Wikramanayake.