CBA's 'global search' for a CEO ends at home

Matt Comyn takes over at the helm of the troubled Aussie lender. But moving its former retail chief to the top job won't ease scrutiny amid a compliance scandal.
Matt Comyn
Matt Comyn

In August, Australia's Commonwealth Bank launched a global search for its new CEO as it sought to fight back from a compliance scandal.

On Monday, it appointed a 20-year veteran of the bank who most recently led the retail division at the centre of money laundering claims that helped spark the creation of a royal commission into the activities of Australia's big-four lenders.

The bank announced on Monday that Matt Comyn would take over from Ian Narev as CEO in April. Narev announced he was standing down in August as CBA posted a record A$9.9 billion $7.8 billion profit just days after financial intelligence agency Austrac...

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