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Commonwealth Bank announces appointment of new Director

16 May 2008

Dr John Schubert, Chairman of Commonwealth Bank of Australia announced the appointment of Andrew Mohl as a Director of the Group. The appointment will become effective from 1 July 2008.

Andrew Mohl, was Managing Director and Chief Executive Officer of AMP Limited from October 2002 until his retirement at the end of December 2007. He has over 30 years of financial services experience, most recently at AMP Limited where he held several senior executive positions after joining that company as General Manager Retail Distribution, AMP Financial Services in November 1996. He also served as Director of AMP Life Limited and AMP Capital Investors Limited.

Andrew was a former Senior and Chief Economist (1986-1990) at ANZ Banking Group, Zone Chief Manager, ANZ Retail Banking (1990-1993) and Managing Director ANZ Funds Management (1993-1996). Previously, he worked at the Reserve Bank of Australia for eight years and was Deputy Head of Research. He also worked on secondment at the Federal Reserve Bank of New York in 1983/84.

Dr Schubert said, "Andrew is very highly regarded and has been a very successful CEO and Managing Director. He has highly relevant experience in the management of large and complex financial services groups. We look forward to his contribution to the workings of the Board".

ENDS

Bryan Fitzgerald
General Manager, Media
(02) 9378 2663

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