In the role, Allen will be tasked with formulating CBA's Australian economic forecasts and its outlook on the Reserve Bank of Australia's cash rate. She will also use the bank's proprietary data to generate insights into the Australian economy.
Commenting on the appointment, CBA chief economist Luke Yeaman said Allen has long been a trusted and authoritative voice on the Australian economy.
“Her deep expertise will be instrumental as we continue to lead the national conversation on key economic issues and leverage the bank’s unique data capabilities to generate meaningful insights for customers,” he said.
Allen joined CBA in 2017 and currently serves as a senior economist within CBA’s Global Economic and Markets Research (GEMR) team.
Prior to her time at CBA, Allen spent more than ten years as a senior analyst in the economic and market research team at Colonial First State Global Asset Management (now First Sentier). She is a CFA charterholder and holds a Bachelor of Economics and a Bachelor of Applied Finance from Macquarie University.
“It’s an honour to take on the role of head of Australian economics at CBA,” said Allen.
“I’m excited to lead our talented team in delivering timely, actionable insights, informed by key economic indicators and the bank’s unique and comprehensive financial data set.”
Allen’s appointment forms part of a wider refresh of CBA’s GEMR structure, which now comprises four teams.
Other recent appointments include Vivek Dhar, who has been appointed as head of commodities and sustainable economics role. This newly created position underscores the growing impact of energy markets and the shift towards net-zero emissions on various industries and markets, according to the bank.
In his new role, Dhar will be responsible for leading the expansion of CBA's sustainability research initiatives and developing projections for key commodities, such as gas and electricity prices.
Dhar has been at CBA since 2014, serving as the lead mining and energy commodities strategist based in Singapore.
Adam Donaldson has been appointed to another freshly minted role as head of market strategy and rates research, joining from CBA’s Global Markets team.
He will lead the development of views on funding markets, swaps, and various bond markets and yield curves. Additionally, he will be responsible for developing and communicating integrated strategic insights related to Australian, New Zealand, and global financial markets.
In addition to these new roles, Joseph Capurso will maintain his position as head of international economics and foreign exchange. He will continue to be responsible for developing CBA’s forecasts for major global economies, central bank policy, and currencies, and expanding CBA’s geoeconomic research.
“The refresh of our GEMR team underscores our commitment to delivering sharp, actionable insights for our customers. The creation of four dedicated teams reflects the need to help our customers navigate the increasingly complex and evolving economic landscape,” Yeaman concluded.
