Commonwealth Bank CFO leaving to run Cayman cryptocurrency firm

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The Commonwealth Bank of Australia’s (CBA) chief financial officer has resigned to run a $12bn cryptocurrency firm based in the Cayman Islands.

Rob Jesudason, who has resigned with immediate effect, is leaving new CBA chief executive Matt Comyn with a sixth senior management role vacant following a series of scandals. Alan Docherty has been named acting CFO while the bank seeks a replacement.

Jesudason will run, a publisher of open-source software with a focus on blockchain technologies, from offices in Hong Kong. The firm is currently developing the EOSIO project, which it describes as “the first performant blockchain platform for developers”. CEO Brendan Blumer, said of his appointment: “Rob has a proven track record of success in global financial services. His alignment with our organisational priorities of creating compliant, high performance blockchain solutions is an ideal fit for, and is an exciting conclusion to our thorough search for the right individual.”

Jesudason said: “Blockchain will have a transformative impact on most industries in the coming years and will redefine operating models by streamlining businesses, while also reducing cost and risk.”

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Christopher Copper-Ind

Christopher Copper-Ind is editor-in-chief of International Investment. Before this, he was editorial director of The Business Year, from 2014 to 2017.