Commonwealth Bank Announces New Group General Counsel and Group Executive Legal & Group Secretariat
Introduction
Chief Executive Officer of the Commonwealth Bank, Matt Comyn, has made an announcement about the appointment of a new Group General Counsel and Group Executive Legal & Group Secretariat to the bank’s Executive Leadership Team. The current Group General Counsel, Carmel Mulhern, has decided to transition to a non-executive director role after three and a half years with the bank, and will be leaving on 31 August 2023. Karen O’Flynn, who is currently a Partner and Executive Chair of Clayton Utz, will be taking over from Carmel starting from 1 September 2023, pending regulatory approvals.
Farewell to Carmel Mulhern
Matt Comyn expressed his gratitude towards Carmel Mulhern for her valuable contributions to the bank during her time as a member of the executive leadership team. Comyn credited Mulhern for her strong focus on customers and employees, as well as her significant role in resolving legal matters and strengthening relationships with key stakeholders. He also highlighted her efforts in simplifying CBA’s corporate governance processes, which have aided the effectiveness of the Board. The CEO extended his thanks to Mulhern for her contributions and wished her the best for her future endeavors.
Welcome to Karen O’Flynn
The incoming Group General Counsel and Group Executive Legal & Group Secretariat, Karen O’Flynn, is a renowned legal practitioner and commercial litigator, both internationally and domestically. With a career spanning 28 years as a Partner at Clayton Utz, O’Flynn has held various leadership positions within the firm, including Chair of the Clayton Utz Board since 2020. Comyn emphasized O’Flynn’s extensive experience in the financial services sector, particularly her support to the bank during the Royal Commission. Comyn and the leadership team are eagerly anticipating O’Flynn’s arrival and look forward to her contributions at CBA.
About Karen O’Flynn
Karen O’Flynn boasts nearly four decades of experience as a legal practitioner in Sydney, Melbourne, and London. Beyond her current role as a Partner and Executive Chair of Clayton Utz, O’Flynn has held esteemed positions such as Elected Director of the Board and National Practice Group Leader for Restructuring & Insolvency. Furthermore, she has actively championed gender equality, demonstrated by her membership in Clayton Utz’s Diversity Council and her recent joining of Chief Executive Women in 2021. O’Flynn’s involvement with the Companies Auditors Disciplinary Board from 2013 to 2022, where she served as Deputy Chair, further showcases her expertise and commitment to the legal profession. She holds a Bachelor of Arts and a Bachelor of Laws (Hons) from the University of Sydney.
Editorial and Advice
The appointment of Karen O’Flynn as the new Group General Counsel and Group Executive Legal & Group Secretariat is indeed a significant development for the Commonwealth Bank. O’Flynn’s extensive legal experience, particularly in the financial services sector, positions her well to navigate the complexities of the banking industry, ensuring legal compliance and robust governance at every step.
Furthermore, O’Flynn’s commitment to gender equality is commendable and aligns with the ongoing efforts to promote diversity and inclusivity within the corporate world. Her involvement with organizations such as Chief Executive Women and Clayton Utz’s Diversity Council underlines her dedication to creating a more equitable workplace. It is hoped that her appointment will contribute to fostering a culture of equality and fairness within the Commonwealth Bank.
To Karen O’Flynn, stepping into this new role presents an opportunity to drive positive change within the Commonwealth Bank and the broader legal landscape. As a seasoned legal practitioner, her expertise and leadership will be invaluable in shaping the bank’s legal strategy, ensuring compliance with regulatory frameworks, and enhancing the bank’s relationships with stakeholders.
In conclusion, the appointment of Karen O’Flynn as the new Group General Counsel and Group Executive Legal & Group Secretariat for the Commonwealth Bank signals a new chapter for the institution. With her wealth of experience, commitment to gender equality, and proven leadership capabilities, O’Flynn is poised to make a significant impact. Time will tell how her tenure unfolds, but the Commonwealth Bank will undoubtedly benefit from her expertise and vision for the future.
<< photo by Mathias Jensen >>
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