January 28, 2018 / 10:02 PM / a year ago

Australia's CBA names internal candidate Matt Comyn as new CEO

Jan 29 (Reuters) - Commonwealth Bank of Australia has named Matt Comyn as its new chief executive, effective April 9, the country’s largest lender by market capitalisation said on Monday.

“Matt’s appointment will enable a smooth transition to new leadership, as CBA responds to the current regulatory processes and legal proceedings, accelerating the related changes and improvements already underway,” CBA Chairman Catherine Livingstone said in a statement.

Comyn replaces outgoing Chief Executive Ian Narev, who has led CBA since December 2011, in a period marked as much by record profits as allegations of serious misconduct. (Reporting by Paulina Duran and Rushil Dutta; Editing by Peter Cooney)

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