CBA CEO to Chair ABA
(10 December 2008 – Australia) Current CBA chief, Ralph Norris, has been appointed to the role of Chairman of the Australian Bankers’ Association (ABA).
The Council of the ABA appointed Ralph Norris, managing director and chief executive officer, Commonwealth Bank, as the new ABA Chairman.
Norris succeeds John Stewart, National Australia Bank’s group chief executive officer.
On his appointment, Norris said that his focus will be to ensure that any regulatory proposals responding to the impact of the US sub prime crisis, particularly from overseas, will be well considered in terms of how they impact on the well performing Australian banking sector, and on customers.
He also said that it will be important in the months to come to recognise that the stability of the banking sector contrasts with many other countries which have seen bank collapses and bail-outs supported by taxpayers’ funds.
The ABA Council is urging the Federal Government to make sure that any changes to financial sector regulation balance the desire for stability with the need for appropriate risk-taking and market initiative, Norris added.
On outgoing Chairman John Stewart, Norris said that he has been a very effective ABA Chairman especially during this credit crisis which has been one of the most turbulent periods in recent banking history, and one which presented many regulatory challenges for the ABA and the industry.
Norris succeeds John Stewart, National Australia Bank’s group chief executive officer.
On his appointment, Norris said that his focus will be to ensure that any regulatory proposals responding to the impact of the US sub prime crisis, particularly from overseas, will be well considered in terms of how they impact on the well performing Australian banking sector, and on customers.
He also said that it will be important in the months to come to recognise that the stability of the banking sector contrasts with many other countries which have seen bank collapses and bail-outs supported by taxpayers’ funds.
The ABA Council is urging the Federal Government to make sure that any changes to financial sector regulation balance the desire for stability with the need for appropriate risk-taking and market initiative, Norris added.
On outgoing Chairman John Stewart, Norris said that he has been a very effective ABA Chairman especially during this credit crisis which has been one of the most turbulent periods in recent banking history, and one which presented many regulatory challenges for the ABA and the industry.
Subscribe