Progress Report on the Financial Services Royal Commission
About David Murray
There has been a lot of negative publicity about an erosion of trust between consumers and some of Australia’s largest retail financial institutions. David Murray, Chairman Elect, AMP will draw on his remarkable experience in the banking industry as CEO of the Commonwealth Bank for 13 years, and former head of the 2014 Financial System Inquiry to help the audience discern the signal from the noise and explore just how far-reaching the banking royal commission will be.
David Murray was appointed the new Chairman of AMP in May 2018 and will join the AMP board after its upcoming annual general meeting.
Mr Murray joined the Commonwealth Bank in 1966 and served as Chief Executive Officer from 1992 to 2005. During his 13 years as CEO, the Commonwealth Bank transformed from a partly privatised bank with a market capitalisation of A$6 billion in 1992 to a A$49 billion integrated financial services company.
In November 2005 the Australian Government announced that Mr. Murray would be Chairman of the Future Fund. His statutory term ended in April 2012.
In November 2013 Mr. Murray was appointed to head the Government's inquiry into Australia's financial system. The inquiry made recommendations to foster an efficient, competitive and flexible financial system, consistent with financial stability, prudence, integrity and fair treatment.
Mr. Murray is a member of the Oliver Wyman Senior Advisory Board and Senior Advisor to Credit Suisse. He has previously served as a member of the Finance Sector Advisory Council and was the inaugural Chair of the International Forum of Sovereign Wealth Funds. He is Chair of the Butterfly Foundation, dedicated to addressing eating disorders in Australia.
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).
Mr. Murray holds a Bachelor of Business and a Master of Business Administration. He holds an honorary Ph.D. from Macquarie University and the University of Technology, Sydney.
Event Chair: John O'Sullivan, Former Chairman, Credit Suisse