The Commonwealth Bank (CBA) has announced the appointment of Gavin Munroe as the bank’s new group chief information officer (CIO).
Mr Munroe has over 20 years of experience in the financial services technology and currently serves as HSBC’s global CIO for wealth and personal banking.
Before joining HSBC in 2018, Mr Munroe headed technology for wealth management, consumer products, mortgage and operations at Bank of America Merrill Lynch. He also previously held leadership roles at Morgan Stanley and Wachovia.
Commenting on the appointment, CBA CEO Matt Comyn said that Mr Munroe was a seasoned financial services technology leader with deep experience driving digital transformations.
“Gavin has a proven track record of delivering technology solutions at a global scale, managing and building strong teams, and leading large programs aligned to business strategies and goals,” said Mr Comyn.
“I look forward to working alongside Gavin to continue delivering global best digital experiences for our customers.”
Subject to meeting regulatory requirements, Mr Munroe will assume his new role on 14 November following the departure of CBA’s current group executive, technology and group CIO Pascal Boillat, who will return to the Northern Hemisphere to be closer to his family.
Mr Comyn acknowledged the significant contribution that Mr Boillat had made to CBA during his four years at the bank.
“He has overseen major IT upgrades, introduced modern applications, simplified and decommissioned old technology, and accelerated the shift to the public cloud. He has also led the digitisation and IT investments that will further deliver on CBA’s strategy to build tomorrow’s bank today for our customers,” he said.
“During his tenure, Pascal established a very strong leadership team, as well as further developed and grown engineering talent and capability at CBA. My leadership team and I have enjoyed working with Pascal and have benefited from his global technology experience. We wish Pascal all the best for the future.”
Last week, CBA reported a full-year cash net profit after tax of $9.595 billion, 11 per cent higher than in the previous financial year.
The bank said that the profit increase was supported by operational performance and volume growth in its core businesses along with sound portfolio credit quality and the reduction of provisions related to pandemic uncertainties.
Jon Bragg is a journalist for Momentum Media's Investor Daily, nestegg and ifa. He enjoys writing about a wide variety of financial topics and issues and exploring the many implications they have on all aspects of life.