Vittoria Shortt steps down as ASB Bank CEO
- Vittoria Shortt will step down on Dec. 11 after leading the division for almost nine years.
- CBA executive Sinead Taylor will take over as ASB CEO on Dec. 12.
- CBA has commenced a search process to fill the institutional banking role vacated by Taylor.
Commonwealth Bank of Australia (ASX:CBA) has announced that Vittoria Shortt will step down as CEO of its New Zealand subsidiary ASB Bank on Dec. 11 after almost nine years in the role.
The change comes as the company prepares to transition leadership to Sinead Taylor, who currently serves as CBA's group executive for institutional banking and markets.
"I want to thank Vittoria for her leadership of ASB over the past nine years and for her contribution to the CBA group over more than two decades," said CBA CEO Matt Comyn.
The leadership change will see Shortt complete her tenure overseeing more than 7,000 employees while the parent company initiates a process to select Taylor's successor.
Following the announcement, the CBA share price was up at $154.37.
The parent company continues to manage its core New Zealand banking operations as part of its broader trans-Tasman retail and institutional strategy.
Taylor brings prior executive experience across major banking divisions, having originally joined the group in 2008 before taking on senior leadership positions.
