CFO Of Australia's Biggest Bank Exits

Josh O'Neill

16 May 2018

The chief financial officer of (CBA), Rob Jesudason, has resigned with immediate effect, as a government-backed probe into the nation’s banking sector continues to claim casualties.

CBA said in a statement it had named Alan Docherty, previously chief financial officer for institutional banking and markets, as Jesudason’s replacement, as he had “decided to pursue an external role in Hong Kong”.

CBA, Australia’s biggest bank, is among some of the largest institutions currently under the microscope of a Royal Commission inquiry into the country’s scandal-ridden financial sector, which has been found to have overcharged clients for advice they never received.

CBA has admitted to losing data tapes containing client information for around 20 million accounts in a security breach two years ago, which it failed to disclose to account holders.

The bank had previously announced in late March that three other executives - Melanie Laing, group executive for human resources; Kelly Bayer Rosmarin, group executive for institutional banking and markets; and Dave Whiteing, group executive enterprise services and chief information officer - would leave in the coming months.