The Commonwealth Bank has appointed an internal candidate as its new chief executive with Matt Comyn moving into the role.
The bank announced that Comyn, who is currently Group Executive Retail Banking Services, would move into the role effect from 9 April.
Commenting on the appointment, Commonwealth Bank chairperson, Catherine Livingston said it had followed a global and local search and rigorous process with Comyn, 42, regarded as having the the best mix of attributes and values needed to lead the Commonwealth Bank.
“The Board is delighted that Matt Comyn has accepted the offer to lead the Commonwealth Bank. We believe he was the outstanding candidate, best placed to lead the bank at an important time in its history,” Livingstone said.
“The Board’s main priorities in selecting the new CEO were to identify the candidate who will maintain the momentum in the business, and address the regulatory and reputational challenges and recognise evolving community expectations. The candidate also needs to transform the business and adapt the organisational capability and culture to suit the rapidly evolving competitive and technology-centric environment.”
“Matt has gained respect across the banking sector both in Australia and globally. His track record is one of delivering very strong business performance, as well as a range of innovative, sustainable business improvements that have strengthened customer outcomes. These have included initiatives reflecting our vision of enhancing financial wellbeing, and consistently industry-leading customer satisfaction ratings for the retail bank.
“His mandate is to continue to make the necessary changes to ensure CBA remains a leading bank with an unwavering focus on its customers and delivering outcomes for shareholders, while achieving the highest operational standards, unequivocally fulfilling our regulatory obligations.”
