More leadership shake-up at CBA

COMMONWEALTH Bank has named Alan Docherty as its chief financial officer as the nation’s biggest lender renews its leadership ranks following a string of scandals.

Mr Docherty is the eighth appointment to the banking giant’s executive leadership team since a money-laundering scandal triggered the departure of former chief executive last year.

Mr Docherty has been acting CFO since May 2018, following the unexpected departure of Rob Jesudason from the post as shocking instances of wrongdoing by the lender were aired at the banking royal commission.

Mr Docherty has previously been the chief executive of the officer Ian Narev CBA’s institutional and markets unit.

CBA chief executive Matt Comyn said the latest appointment followed a thorough global search for a candidate.

“Alan has already made a significant contribution to the executive leadership team over the past five months as we have made changes to become a simpler, better bank,” he said. banking

Mr Comyn last week told a parliamentary committee the bank had fired 41 staff for misconduct this year, while nine more had resigned under investigation for matters likely to result in termination.

Not all were directly linked to the powerful royal commission that has unearthed widespread misconduct in the financial services sector.

COLLECTORS: Audrey, Annalise, Abi and Millie show off their collections of Coles’ Small Shop miniatures. The campaign helped the supermarket chain record a 5.1 per cent rise in sales.