Macquarie Group , employer of Australia's best-paid CEO, said on Thursday it will review its executive compensation following a regulatory compliance lawsuit as shareholders voted against its salary plans for the first time at its annual meeting.

More than a quarter of Macquarie Group Ltd. shareholders rejected the bank’s executive remuneration plan at an annual meeting Thursday, piling pressure on its board by increasing the risk of a confidence vote next year.

Macquarie Group’s long-serving chief financial officer will leave the company, as the investment bank faces a shareholder backlash for not cutting executives’ eye-watering pay packets despite a series of compliance blunders.

Chairman Glenn Stevens has conceded a “significant minority” of investors feel the board had not done enough to adjust pay.

Macquarie Group , the employer of Australia's best-paid CEO, said on Thursday it will review its executive compensation following a regulatory compliance lawsuit, as some shareholders prepare to vote against its salary plans at its annual meeting.