Commonwealth Bank Australia Retail Bank Head To Resign
07 May 2012 - 6:45PM
Dow Jones News
The head of Commonwealth Bank of Australia's (CBA.AU) group
retail banking services has resigned to take over as the chief
executive of U.K. retail at the Royal Bank of Scotland.
Ross McEwan--who was among the frontrunners to take over as head
of Australia's largest bank when former Chief Executive Ralf Norris
left in 2011--will leave the group later this year to take over as
head of the London-based lender, CBA said in a statement on
Monday.
CBA Chief Executive Ian Narev said the bank was grateful for
McEwan's five years of service. He said the bank would announce
McEwan's replacement "in due course" after undertaking a global
search for internal and external candidates.
"For the last five years he has been a highly valued member of
the Group's Executive Committee," said Narev in a statement. "He
leaves with our sincere appreciation and best wishes."
-By Caroline Henshaw, Dow Jones Newswires; 61-2-8272-4689;
caroline.henshaw@dowjones.com
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