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Major bank shakes up executive team

Major bank shakes up executive team

The Commonwealth Bank of Australia has announced a series of changes to the bank’s senior executive team, with three people leaving in the coming months as “the bank prepares for its future”.

Three people will leave the bank by the end of the year, namely:

  • Melanie Laing, group executive for human resources
  • Kelly Bayer Rosmarin, group executive for institutional banking and markets
  • David Whiteing, group executive for enterprise services and chief information officer

The changes are being announced ahead of incoming CEO Matt Comyn assuming his new role on 9 April 2018. 

Speaking of the changes, outgoing CEO Ian Narev said: “Leadership transitions are inevitably a time of change in senior teams, as executives reassess their own plans, and the bank prepares for its future. 

“Today, we are announcing the departure of three high calibre executives who have contributed significantly to CBA. 

“We thank them for their leadership, and wish them all the very best for the future,” Mr Narev said. 

Incoming CEO Matt Comyn thanked the three senior executives for their service over the years, adding that he has commenced the search processes for these positions.

Mr Comyn added that the “global search” for a candidate to fill his current role as group executive retail banking services is “progressing well”. 

He said: “As incoming CEO, I am focused on building an executive leadership team that will work to exceed the expectations of our customers, the community and regulators; rebuild the trust and pride in our bank; and enhance the financial wellbeing of every customer we serve.” 

Melanie Laing 

Ms Laing was first appointed group executive, human resources in 2012, and has given notice of her intention to retire. She will leave CBA by the end of the 2018 calendar year. 

She commented: “It has been a privilege to have been a part of the CBA and having had the opportunity to play a part in realising our vision of financial wellbeing for the people, businesses and communities we serve. I have thoroughly enjoyed being a partner with so many talented and committed people across the organisation.”

A global search will now commence to find Ms Laing’s successor. 

Kelly Bayer Rosmarin 

Having been with CBA since 2004, Ms Rosmarin has held several senior executive positions across both the institutional and business banking divisions. 

Since December 2013, she has been group executive, institutional banking and markets. 

Ms Rosmarin will step down from her role in April 2018.   

She commented: “It has been an honour and a privilege to have contributed to the success of the Commonwealth Bank over the last 14 years, and to have been able to work with so many amazing people. I have been enriched by the opportunities afforded me,and am especially proud of CBA's track-record of leading innovation for our customers. 

“I am confident that the Commonwealth Bank Group has talented people who will achieve great outcomes for all our stakeholders in the future, and it is my hope that the business continues from strength to strength.” 

George Confos, who is currently executive general manager business and corporate finance, will take acting responsibilities for the institutional banking and markets division while a global search is undertaken for a successor. 

David Whiteing 

The current group executive enterprise services and chief information officer will step down from his role in April 2018, after five years with the bank and nearly four years in his current role. 

Mr Whiteing said: “Over the past four years we have made significant progress using our technology and operations capability to better meet our customers’ needs.

“I am particularly proud of the work we have done in speeding up decision making and delivery. This has all been achieved while maintaining focus on our innovation agenda. 

“We have a great team who will play a crucial role in the next stages of the strategy.” 

Paul Newham, currently the executive general manager, group operations, will take acting responsibilities for the enterprise services division while a global search is undertaken for Mr Whiteing’s successor.

[Related: CBA executive GM joins FSC board]

Major bank shakes up executive team
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