Commonwealth Bank of Australia (CBA) has appointed Alan Docherty as its new CFO, replacing Rob Jesudason who resigned in May this year.
Docherty had been serving as the acting CFO since Jesudason’s departure.
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Docherty has an experience of over two decades in the financial services sector.
At CBA, he previously served as the CFO of the institutional banking and markets unit and worked in senior positions in group finance, group treasury and the business and private bank.
He formerly also chaired the group’s Financial Services Diversity Council.
Before joining CBA in 2003, Alan served at PwC, Arthur Andersen and Ernst & Young.
CBA CEO Matt Comyn said: “Alan has already made a significant contribution to the Executive Leadership Team over the past five months as we have made changes to become a simpler, better bank.
“Having worked in both the UK and Australia, as well as across all the major divisions of CBA since 2003, Alan has deep and extensive knowledge of our business combined with a clear customer focus.”
The management change comes amid a series of scandals at the bank. Last year, the Australian Transaction Reports and Analysis Centre (AUSTRAC) filed a civil suit against the bank for alleged money laundering and financial crime.
The bank’s CEO Ian Narev stepped down soon after and earlier this year was replaced by Comyn.
In June 2018, the bank agreed to pay A$700m ($498.2m) to settle AUSTRAC’s charges.
