David Murray joined the Commonwealth Bank of Australia in 1966, was appointed Chief Executive Officer in June 1992, and retired from this position in 2005.
In David Murray’s 13 years as Chief Executive, The Commonwealth Bank transformed from a partly privatized government owned bank to an integrated financial services company. In the process it generated total shareholder returns (including gross dividend reinvestment) at a compound annual growth rate of over 24 per cent.
David is passionate about Australia’s place in the World and the economic environment that makes Australia special. His leadership of the Commonwealth Bank gives him a unique perspective on both strategic and operational leadership, change management, winning cultures and the balancing of shareholders expectations with the need for fiscal responsibility. He is recognized for his meaningful analysis and insights into macroeconomics and their impact on the Australian business community and other sectors that make up the tapestry of Australia’s commercial environment.
David is an engaging speaker who is highly sought after in Australia and abroad.
David is a Senior Advisor of Credit Suisse, based in Sydney. He is a member of the Oliver Wyman Senior Advisory Board. He is also a Consultant to Olbia Pty Ltd.
In a period of turmoil in the banking and finance sectors, David has accepted the role of Chairman of AMP. When culture and performance is under the spotlight, David is the right man in the right place to make a difference.
Chairman: In November 2005 the Australian Government announced that David would be Chairman of the Australian Future Fund. The Fund's objective is to invest budget surpluses to meet the long-term pension liabilities of government employees and take the pressure off the budget from aging of the population. His statutory term ended in April 2012.
Education: He holds a Bachelor of Business from the NSW Institute of Technology and a Master of Business Administration from Macquarie University. Additionally, David has been awarded honorary doctorates by both the University of Technology Sydney and the Macquarie University.
Chair: David has held a number of public sector advisory roles in Australia and was the inaugural Chair of the International Forum of Sovereign Wealth Funds.
Awards: In 2001 he was awarded the Centenary Medal for service to Australian Society in banking and corporate governance and in 2007 he was made an Officer in the Order of Australia (AO) for his service to the finance sector both domestically and globally and service to the community.
Report: In early 2014 the Prime Minister of Australia appointed David to Chair the Inquiry into Australia’s Financial Systems. The report was handed down in November 2014.