Original article by James Thomson
The Australian Financial Review – Page: 13 & 16 : 9-Apr-18
Matt Comyn will formally succeed Ian Narev as CEO of the Commonwealth Bank of Australia on 9 April. His immediate priority is expected to be taking action to address the damage that a series of scandals have caused to CBA’s reputation. However, Yarra Capital Management’s MD Dion Hershan says CBA remains a strong business with a sound strategy, and any damage to its reputation is likely to be temporary. Meanwhile, Hamish Chalmers of Watermark Funds Management says reducing costs should be CBA’s priority over the next five years.
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, YARRA CAPITAL MANAGEMENT, WATERMARK FUNDS MANAGEMENT PTY LTD, AUSTRALIA. ATTORNEY-GENERAL’S DEPT. AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, ABN AMRO BANK NV, ING BANK NV