You win some, you lose some

Politics, even local Government politics, can be a tough game and so Outsider wishes to give a big shout out to Commonwealth Bank whistle-blower, Jeff Morris, who proved to be a one-term wonder on the North Sydney Council.

Jeff served on the North Sydney council during a time which the local newspapers have described as “fractious” noting that it was “one of the most complained about councils in the state and was threatened with suspension”.

It must have been interesting times. Outsider recalls reading reports about Jeff having some issues with the North Sydney mayor, Jilly Gibson, with Gibson at one stage reported as seeking to take out an apprehended violence order.

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All of that is now political history, with Gibson being returned as Mayor and the election of five new councillors expected to lead to a lower level of “fractiousness”.

On the upside for Jeff, last week’s radical announcements by the Commonwealth Bank including the exit of wealth boss, Annabel Spring, must give him comfort that he has in some small way been an instrument for change.

It seems that CommBank will be moving beyond the middle of 2018 with a new chief executive and a new head of wealth, minus CommInsure and with CFS Global Asset Management up for grabs.

In Outsider’s experience that is called a “major public relations circuit breaker” and you can bet the new CEO will be aiming to keep the big banking group off the front pages unless it is reporting another record profit.

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