Group head of strategy assumes new role
Commonwealth Bank has promoted Stuart Munro (pictured above), previously group head of strategy, to group executive group strategy.
The change in the bank’s executive leadership, announced by chief executive Matt Comyn, is pending regulatory approval.
“Stuart has been an integral part of the bank’s executive leadership team since 2018,” Comyn said. “Over the past few months, the scope of his role has expanded significantly as he has taken on executive accountability for additional functions, including strategic divestments and mergers and acquisitions, as well as maintaining oversight of our venture building entity, x15.
“As group head of strategy, Stuart has played a crucial role in defining and evolving the group’s strategy and in shaping the response to changes in the operating context and customer needs. There have been a number of significant changes in context during his time in role, including the Prudential Inquiry and the pandemic.”
With a 12-year tenure at CBA, Munro has also undertaken various key positions, including acting executive general manager of customer experience and retail strategy, deputy regional general manager in Sydney for the Retail Bank, and general manager of digital banking and strategy in the bank’s former International Financial Services division based in Hong Kong.
In his new role, Munro will lead the development of CBA’s strategic initiatives, supporting the board and executive leadership in strategic planning, business development, and overseeing mergers, acquisitions, and strategic divestments. His leadership will also extend to x15, the bank’s venture building business.
Before his time at CBA, Munro held positions at McKinsey & Company across London, New York, and Sydney, advising on strategy for leading financial services firms. He holds degrees in engineering and science from the University of Western Australia and a doctorate in aerospace engineering from the University of Oxford.
In addition to his duties at CBA, Munro is actively involved in the not-for-profit sector as a director of ReachOut, a youth mental health organisation, and serves as chairman of New Digital Businesses, the legal entity behind x15.
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