, Australia

CFO Rob Jesudason leaves CBA

He is the fifth executive to leave the embattled bank.

Reuters reports that Commonwealth Bank’s chief financial officer Rob Jesudason has resigned unexpectedly making him the fifth key executive leaving the embattled bank following one of the worst governance crises it has faced.

Alan Docherty, the previous CFO of the Institutional Banking and Markets unit, was appointed as acting CFO. Three executives in charge of HR, IT and institutional banking have already left the bank in less than two months.

The departure marks six out 12 executive positions currently vacant at the embattled bank after a regulatory probe by the country’s Royal Commission exposed flaws in the bank’s leadership culture as well as rampant industry malpractice, prompting calls for stiffer penalties and tighter regulation.

Also read: Australian bank inquiry could cut 8% of the country's finance jobs

CBA is also facing potentially massive fines and higher capital requirements over breaches of anti-money laundering and terror financing laws in addition to allegations of rigging the bank bill swap rate. This follows the discovery of the loss of nearly 20 million customer records after the bank lost two magnetic tapes containing 15 years of customer data.  

Here’s more from Reuters:

Pembekuan pendanaan menghantam penyedia layanan BNPL

Investor semakin sedikit mengalirkan dana ke penyedia layanan BNPL yang sudah menghadapi keuntungan margin yang tipis.

HSBC: Aliansi bank-fintech merupakan win-win

Pemberi pinjaman dapat belajar dari teknologi disruptif sambil membantu mereka mematuhi regulasi.

Tokenisasi aset perdagangan untuk menjembatani kesenjangan pembiayaan

Teknologi blockchain dapat mendesentralisasikan operasi keuangan dan mempermudah akses kredit.

BCA menjalankan komitmen terhadap keuangan berkelanjutan

Bank asal Indonesia ini mempertimbangkan aspek lingkungan dan tata kelola dalam keputusan pemberian pinjaman.

Mengapa UNOBank mendorong embedded finance tumbuh di Filipina

Bagi UNOBank, banking interface terpadu adalah strategi pertumbuhan sekaligus upaya inklusi keuangan.

OCBC mencoba mengurangi kesenjangan manfaat bagi agen properti di Singapura

Produk terbarunya menawarkan manfaat finansial di bidang perbankan, asuransi, dan perdagangan.

Upaya Malaysia menjadi anggota BRICS untuk mendorong perombakan sistem perbankan

Namun, tantangan muncul ketika menjauh dari ketergantungan pada AS dan SWIFT.

Platform pembayaran PingPong memperoleh lisensi PJP di Indonesia

PingPong mengincar ekspansi ke pasar ekspor senilai $320 miliar di negara tersebut.

Merger dan penutupan mengancam 3.800 bank di area pedesaan Cina

Sekitar 70 bank di area tersebut telah merger sejak 2023.