What the company allegedly told her team about her departure raises more questions
A senior Macquarie executive alleges she was terminated over Zoom while on maternity leave, weeks after her newborn was hospitalized in intensive care.
Ronalee Balog, former Head of Portfolio Performance Group in the Americas for Macquarie's infrastructure investment arm, filed suit on February 19, 2026, in the Southern District of New York. The case names nine Macquarie entities alongside CEO Karl Kuchel and Global Head of Real Assets Leigh Harrison as defendants. No determination has been made on the merits of the claims.
Balog joined Macquarie in or around March 2022, reporting directly to Kuchel. By her account, she consistently received strong performance reviews and was being groomed for a global leadership role. In her 2023 review, the company praised her "global leadership of the PPG" and encouraged her to ensure the global process model was followed. A senior managing director had been actively discussing with her the design and resourcing of the global team.
That trajectory, according to the filing, shifted after Balog became pregnant.
Balog had previously shared her IVF journey with Macquarie's Human Resources Leader, Cana Iwahara. She learned she was pregnant in or around December 2023. Then, on or about May 21, 2024, her domestic partner suddenly passed away.
The company granted Balog FMLA leave, though she alleges she continued working part-time throughout. Approximately one...
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