TheCommonwealth Bank’shead of Australian Financial Services, John Mulcahy, is likely to become the next chief executive of theSt George Bank, according to a report by research groupInvestorwebtoday.
The Commonwealth did not wish to comment when contacted byMoney Managementtoday, but Investorweb says Mulcahy is the favoured candidate for the role, with his appointment currently awaiting board ratification.
Quoting sources close to the St George board, Investorweb says Mulcahy is likely to replace St George’s executive chairman Frank Conroy, who has been heading up the group since the death of former chief executive Ed O’Neal in mid September.
Before his appointment at the Commonwealth, Mulcahy was the chief executive of Lend Lease’s Property Investment Services division.
Mulcahy is also currently a chairman of the Commonwealth’s insurance arm, Colonial Mutual Life.
