Paul Rayson to head CommSec

Commonwealth Bank of Australia has announced the appointment of Paul Rayson as executive general manager, CommSec, effective February 10, 2014. This senior role reports to Grahame Petersen, group executive business and private banking.

Rayson was appointed executive general manager of CommInsure in 2009 and during his tenure was the architect of several strategic initiatives including producing a significant turnaround in customer service and people engagement, driving significant growth in meeting more CBA customers’ needs, and improving the profitability in traditional third party businesses.

Prior to CommInsure, Rayson was chief financial officer for CBA’s Wealth Management division from 2006 to 2009 responsible for the financial management of Colonial First State, Colonial First State Global Asset Management and the Insurance businesses. Prior to 2006, Rayson was chief financial officer and head of strategy of CBA’s Retail Bank. He joined CBA following the acquisition of the Colonial Group in 2000. Rayson is a Fellow of the Institute of Chartered Accountants.