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Kelly rumours reach fever pitch

Kelly rumours reach fever pitch

(29 April 2005 – Australia) They say there’s no smoke without fire but whichever way you look at it the rumours surrounding St George Bank Gail Kelly’s future require the fire brigade’s imminent attention. No matter how many times the St George chief executive commits publicly to the bank saying she’s enjoying her work more than ever before, the market scuttlebutt linking her name to the Commonwealth Bank top role refuses to be doused.

In fact, certain media reports are stating that Kelly is "expected" to take over from CBA chief executive David Murray once she’s delivered the bank’s half yearly numbers on 1 May.

The rumours have gathered pace over the past couple of weeks with both ANZ chief executive John McFarlane and National Australia Bank boss John Stewart saying Kelly is a frontrunner for the CBA job.

Some analysts have also lit a fire under the St George-Suncorp merger rumours, saying the merger is a perfect fit and that Suncorp chief executive John Mulcahy will run the combined bank.

Both Kelly and Mulcahy are ex-CBA.

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