Commonwealth Bank merges marketing and corporate affairs teams, appoints new group exec
Commonwealth Bank has announced some significant changes to its leadership team, including a merger of its marketing and corporate affairs functions.
Alongside the changes, the bank has announced the appointment of Priscilla Sims Brown into the role of group executive marketing and corporate affairs. The move comes after the retirement of Anna Lenahan, group general counsel and group executive corporate affairs as of June 30.
Priscilla Sims Brown
Commonwealth Bank has confirmed the changes to the marketing and corporate affairs teams will not result in any redundancies and will just change the line of reporting.
Fellow Big Four bank NAB also restructured its leadership team last year in the wake of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.
The changes included the departure of chief customer officer for consumer banking and wealth management, Andrew Haggar. At the same time, former NSW premier Mike Baird was promoted from chief customer officer of corporate and institutional banking, to chief customer officer of consumer banking.
CEO Matt Comyn said Lenahan’s retirement had given the bank the chance to review the requirements of the role and the leadership teams.
“With our focus on earning trust and restoring the reputation of the Commonwealth Bank, we have decided to separate the role,” said Comyn.
“In addition to a group general counsel and governance, we are creating the new role of group executive marketing and corporate affairs to allow for greater focus on how we engage with our customers, stakeholders, and the broader community. Both roles will report directly to me.”
Brown joins from the US following an extensive domestic search and will lead the team from August 1. She’s the CEO of Emerge.me, a US-based start-up digital healthcare platform, a role she took up in 2017. Prior to this, Brown was senior vice president and chief marketing officer for AXA Financial.
Brown has also held executive leadership roles at Ameri Health Caritas, Sun Life Financial US, and Lincoln National Corporation, with responsibility for leading business units, stakeholder engagement, marketing, corporate affairs, investor relations and business development functions.
“Priscilla is a seasoned senior executive with extensive investment management, insurance, and financial services experience. In addition to her marketing and corporate affairs expertise, Priscilla has an impressive track record of driving ambitious growth and customer transformation agendas, particularly during challenging periods,” said Comyn.
“Priscilla’s appointment will help us continue the changes and improvements we need to make to earn the trust of our customers and the community and build a better bank for the future. I look forward to welcoming her to my executive team.”
The bank will announce the appointment of a new group general counsel and governance in due course, with David Cohen, deputy CEO, assuming the responsibility in the meantime.
