Adam Bennett has been named as Mr Petersen’s replacement.
Commonwealth Bank chief executive Ian Narev said the appointment will ensure the bank can build on recent growth in the business and private banking business which, he said, remains an important strategic priority for the Commonwealth Bank.
“Grahame has made a significant contribution to the Bank over 35 years, the last 10 on the Group’s Executive Committee," Mr Narev said in a statement. "His legacy is an ongoing drive to improve customer focus and culture. Under his leadership, the business and private bank has continued to grow and improve customer satisfaction levels. Adam will build upon this momentum by increasing the rate of delivering innovative customer solutions, made possible by the Group’s continuing investment in technology.”
Mr Bennett joined the Commonwealth Bank’s group technology unit in 2004 and was the chief information officer for the retail banking and business banking divisions during the core banking modernisation project. He joined the business and private banking leadership team in 2009 and became the executive general manager of the local business banking business in 2012.
Mr Narev said the appointment of Mr Bennett continues CBA's record of promoting internal candidates to executive roles.
“Adam is an experienced and technology-savvy banker with a track record of delivering growth through innovative customer service, product and process improvements,” he said.
Prior to joining the Commonwealth Bank, Mr Bennett was principal at strategic consulting practice A T Kearney, working across industries in Australia, New Zealand, Asia, and Europe.
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