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Commonwealth Bank Chief Reflects on Bank’s Past Failings

by Starling Insights

Starling Insights Editorial Board

Aug 11, 2022

Observations

According to Commonwealth Bank of Australia (CBA) Chief Executive Matt Comyn, failings uncovered at the bank during the Hayne Royal Commission were caused by complacency, arrogance, and ignorance.

CBA's success led the bank to become insular. "We had been successful. Some of that success led to complacency over time, some of it led to false beliefs about why we were successful,” Cormyn stated at the Australian Council of Superannuation Investors (ACSI) conference.

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Commonwealth Bank Chief Reflects on Bank’s Past Failings

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