Our Business
The Commonwealth Bank has four customer-facing business divisions, designed to align product development and service delivery
more fully with the Group's customer segements. The businesses are:
Retail Banking Services - responsible for delivering customised service, focusing on meeting the financial needs of personal and small business customers seeking accessible and affordable banking.
Premium Business Services - provides wealth and relationship management for the Bank's premium clients (private, business, corporate, agribusiness and institutional). Australia's leading online broking service, CommSec, is part of this team.
Wealth Management - provides strategic and operational support for distribution of all investment and insurance products and is responsible for the management of all Commonwealth Bank property. Wealth Management incorporates our funds management platform, FirstChoice, as well as master funds, superannuation, insurance and financial advice business support. Under the Wealth Management umbrella are brands such as Colonial First State, Colonial First State Global Asset Management, CommInsure, Financial Wisdom and Commonwealth Financial Planning.
International Financial Services - is focused on developing offshore growth opportunities for the Bank in the Asia Pacific region. The Bank's international strategy is to adopt a low key but committed approach to selected offshore markets which in the medium to longer term enables the Bank to develop a portfolio of viable offshore financial services businesses.
Retail Banking Services - responsible for delivering customised service, focusing on meeting the financial needs of personal and small business customers seeking accessible and affordable banking.
Premium Business Services - provides wealth and relationship management for the Bank's premium clients (private, business, corporate, agribusiness and institutional). Australia's leading online broking service, CommSec, is part of this team.
Wealth Management - provides strategic and operational support for distribution of all investment and insurance products and is responsible for the management of all Commonwealth Bank property. Wealth Management incorporates our funds management platform, FirstChoice, as well as master funds, superannuation, insurance and financial advice business support. Under the Wealth Management umbrella are brands such as Colonial First State, Colonial First State Global Asset Management, CommInsure, Financial Wisdom and Commonwealth Financial Planning.
International Financial Services - is focused on developing offshore growth opportunities for the Bank in the Asia Pacific region. The Bank's international strategy is to adopt a low key but committed approach to selected offshore markets which in the medium to longer term enables the Bank to develop a portfolio of viable offshore financial services businesses.
Our Support Divisions
Financial and Risk Management - provides strategic leadership, services and support to the Bank's divisions on financial,
risk, audit, security and procurement management matters, as well as comprehensive Investor Relations to our external
customers.
Enterprise IT - delivers Technology and Operational Excellence to support the vision to be Australia's finest financial services organisation. It focuses on driving growth and returns through the delivery of rich, customer centred technology and effective operational procedures.
Human Resources - Human Resources develops and maintains HR policies, programs and systems that support our people to deliver the Bank's strategic initiatives and help make the Bank a great place to work. Human Resources consists of four centre functions: Talent and Development, Performance and Recognition, Employee Strategy and Information Services, and the Chief Medical Adviser. In addition, a strategic HR support team operates within each business unit.
Group Strategic Development - coordinates the development of corporate strategy, mergers and acquisitions and strategic portfolio governance at a Group level.
Secretariat - responsible for the secretariat functions for the Bank Board of Directors and its various committees, the support office of the CEO and the Chairman, the Secretariat functions for Group subsidiary companies and related committees, and the trustee management functions for some managed investment/insurance products and services.
Legal Services - responsible for providing legal advice and services to the Bank, and for managing legal risk.
Marketing and Communications - brings together the Bank's marketing, sponsorship, employee communication, media and public relations, brand and customer insights teams to provide strategic support and advice to the Bank's leaders.
Enterprise IT - delivers Technology and Operational Excellence to support the vision to be Australia's finest financial services organisation. It focuses on driving growth and returns through the delivery of rich, customer centred technology and effective operational procedures.
Human Resources - Human Resources develops and maintains HR policies, programs and systems that support our people to deliver the Bank's strategic initiatives and help make the Bank a great place to work. Human Resources consists of four centre functions: Talent and Development, Performance and Recognition, Employee Strategy and Information Services, and the Chief Medical Adviser. In addition, a strategic HR support team operates within each business unit.
Group Strategic Development - coordinates the development of corporate strategy, mergers and acquisitions and strategic portfolio governance at a Group level.
Secretariat - responsible for the secretariat functions for the Bank Board of Directors and its various committees, the support office of the CEO and the Chairman, the Secretariat functions for Group subsidiary companies and related committees, and the trustee management functions for some managed investment/insurance products and services.
Legal Services - responsible for providing legal advice and services to the Bank, and for managing legal risk.
Marketing and Communications - brings together the Bank's marketing, sponsorship, employee communication, media and public relations, brand and customer insights teams to provide strategic support and advice to the Bank's leaders.
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