Commonwealth Bank appoints Chief Financial Officer

25 July 2006

The Commonwealth Bank today announced the appointment of David Craig as Chief Financial Officer.

The Bank’s Chief Executive Officer, Ralph Norris said, "I am very pleased to have attracted a person of David Craig’s standing and capability to my senior leadership team. He is a high calibre executive with strong financial and audit experience, including in banking and financial services, through a range of senior positions he has held in leading Australian and international companies".

David will provide leadership in the finance and risk management areas, where programs such as accounting standards, audit requirements and regulation are under continual review. He will commence with the Bank during September.

David joins the Bank from his most recent position of CFO Australand where he was instrumental in the company’s financial reorganisation. He is also currently a Director of AGL Limited.

A former audit partner and Chief Operations Officer of Pricewaterhouse Coopers Australasia, David also worked as global CFO for PwC Consulting, based in the United States.

Mr Norris said that he would like to take this opportunity to thank Gary Thursby for his support and the way in which he has performed the CFO role on a caretaker basis, which he will continue to do until David’s arrival.


For further information, please contact:

Bryan Fitzgerald
General Manager, Media
Commonwealth Bank of Australia
Telephone (02) 9378 2663