Chris Zappone August 03, 2012
Matt Comyn, now head of retail banking services, CBA. Photo: Andrew Quilty
In a nod to the increased importance of technology in banking, Commonwealth Bank has appointed an ex-CommSec chief with IT expertise to head its retail banking services division.
Matt Comyn will take over as group executive retail banking services from August 10, stepping into the role left open by Ross McEwan in May.
Comyn, who joined CBA in 1999 and most recently oversaw its local business banking operations, spent four years at the helm of online brokerage CommSec, where he managed the modernisation of its trading platform.
"Through his various roles in the group, Matt has demonstrated high integrity, a strong focus on our people and customers, a deep understanding of the application of technology to financial services, and broad strategic vision," said CBA chief Ian Narev.
"This combination of skills makes him ideally suited to lead a very talented team within retail banking services to continue the strong momentum of the business, while positioning it well in a rapidly changing operating environment."
CBA, like the entire banking industry, is implementing company-wide upgrades of its IT infrastructure to reduce costs and increase efficiency. The technological improvements will focus on consumers who conduct more transactions online and through mobile devices like iPhones than in the past.
The bank has admitted a major part of its strategy is technology, under the direction of the chief executive and the executive committee, which Comyn will be joining.
''Matt has spent many years evolving his understanding of the fundamentals of technology and how customers use technology for their banking needs,'' said a spokesman for the bank.
''This will continue in his new role.''
In May, McEwan, once considered a candidate for the chief executive spot, surprised the market by announcing he was leaving the CBA for a post at Royal Bank of Scotland in Britain.