Commonwealth Bank Makes Four Leadership Appointments

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Australia’s largest lender, the Commonwealth Bank of Australia, announced recently that it designated four new leaders to handle the bank’s commodities, trade, and carbon (CTC) arms of its global markets business. 

CBA states this move reflects its significant growth agenda in these sectors.

“Our clients are navigating a volatile commodity price environment, challenging supply chains and the global transition to a low carbon economy – it’s more important than ever that we have the right skills, capabilities and people to provide the best support. These appointments reflect the significant growth plan we have in CTC and the prioritisation of our key focus areas under our revised strategy,” notes Alex Toone, executive general manager of CTC. 

The bank named Martyn Whitehead as the managing director of its strategy for its commodities business. Previously the global co-head of commodities sales at Standard Chartered Plc in London, Whitehead will focus on Australia and New Zealand markets.

New joiner Joe Arena will handle Trade Finance. As the managing director of this newly created role, Arena is tasked to lead CBA’s strategy across the institutional bank’s trade finance, focusing on capital and supply chain finance business. Arena came from HSBC, where the last role he held in his 16-year tenure as Australia’s country head of global trade and receivables finance.

Former Australian Securities Exchange (ASX) co-head group executive and markets and general manager Bradley Campbell joins CBA as the managing director of commodities trading. Bradley was previously the head of commodities trading for Standard Chartered in Europe.

The last on the list joining CBA is Yasmina Elshafei. She will take the managing director role for global carbon, responsible for the bank’s carbon market business. Elshafei’s experience spanned from her previous posts as executive director at climate change advisory and investment firm Pollination Group. It was senior vice-president at Macquarie Capital, whose scope encompasses large-scale infrastructure and renewable energy projects.

CBA group executive of institutional banking and markets Andrew Hinchcliff notes, “Our new CTC business enhances our specialisation in these areas and helps us deliver even greater value to our clients by driving our capabilities to the next level. We are delighted to have secured an exceptional range of talent and expertise for the CTC leadership team.”

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