Brian Bissaker appointed new Colonial First State CEO

22 November 2006

Commonwealth Bank announced today that Brian Bissaker has been appointed Chief Executive Officer of Colonial First State from 4 December 2006.

"I’m very pleased to be able to announce Brian as the new CEO of Colonial First State and as a member of my senior executive team. Brian has extensive experience in the area of retail funds management and a demonstrated passion for the business." Commonwealth Bank Group Executive Wealth Management, Grahame Petersen said today.

"I’m confident Brian will continue to make a strong contribution to the experience of our investors and staff, and also to the broader industry."

"The deep pool of talent within our organisation ensures we can swiftly appoint well-qualified internal people to senior roles, as in this case," Mr Petersen stated.

Brian joined Colonial First State in 2002 and is currently General Manager, Product and Investment Services. He previously held senior roles in funds management product and technical roles, including at BT Funds Management and KPMG.

"I am delighted and privileged to take on this role given the strength of the business and the quality of its people. I look forward to supporting the continued growth of Colonial First State and provide the best possible products and services to our investors and their advisers," Brian said.

Brian is a Director of ASFA and sits on the IFSA Economics, Tax and Savings Board Committee.

Background - Full biography

Brian currently holds the position of General Manager, Product and Investment Services for Colonial First State and sits on the Executive Committee of Colonial First State Investments.

In these positions he is responsible for working with the executive to manage the business of Colonial First State and is specifically responsible for driving the development of Colonial First State's products. He is also responsible for a range of investment functions including the FirstChoice multi-manager capability and is chairman of the investment committee.

Prior to joining Colonial First State in 2002, Brian spent eight years at BT Funds Management where he was an Executive Vice President and Head of Product.

Brian commenced his career as a taxation and superannuation consultant at KPMG servicing the finance, funds management and superannuation industries.

Brian has extensive experience in dealing with Government and industry bodies on policy and technical superannuation and savings issues. He is a Director of ASFA and sits on the IFSA Economics, Tax and Savings Board Committee.

In August 2006 Brian won an industry excellence award for his contribution to IFSA and their advocacy work.

Brian holds a Bachelor of Economics Degree from Sydney University and is a Chartered Accountant. He has also completed the International Executive Program at INSEAD France.


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For further information, please contact:

Amber Saggers
Media and Communications
Wealth Management
Ph: 02 9303 6059
Mb: 0417220853