O’Malley eyes CBA challenges with Livingstone to retire

James Eyers, Ayesha de Kretser and James Thomson

Updated Apr 27, 2022 – 4.34pm, first published at 8.34am

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Incoming Commonwealth Bank chairman Paul O’Malley has warned that responding to digital banking threats will be a top priority as he prepares to take the reins from Catherine Livingstone, who said on Wednesday she will retire in August after an intense six years on the board.

CBA weathered multiple storms during Ms Livingstone’s chairmanship, including a money-laundering scandal, a prudential inquiry into governance failings, the banking royal commission – which was partly triggered by CBA’s failings to deliver financial advice – and then the global pandemic.

James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay

Ayesha de Kretser is a senior reporter with The Australian Financial Review covering the aviation and tourism sectors. She has previously reported on banking, mining and commodity markets.

James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine.