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The Commonwealth Bank has appointed former judge Ian Callinan as chairman of the bank’s independent review into the financial planning scandal.
The former High Court judge will lead the Commonwealth Bank’s internal review of financial planning practices between 2003 and 2012.
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Mr Callinan’s initial role will be to advise chief executive Ian Narev about supporting affected customers and guaranteeing an independent review of their cases.
Mr Narev said Mr Callinan’s appointment is crucial to ensuring the independence and integrity of the process, and highlights the bank’s commitment to helping affected customers.
“The Honourable Ian Callinan has demonstrated throughout his career an outstanding ability to understand complex problems from the perspective of their impact on the individual,” Mr Narev said.
“His approach to justice and his determination for clear speaking and fair outcomes will set the benchmark for the operation of the Open Advice Review program.
“The independent review panel will provide comfort to customers that if they disagree with the assessment, then independent and esteemed experts will determine the right outcome to which the bank will be bound.”
[Related: CBA comments on financial planning scandal]
