CBA NewCo CEO departs after tumultuous year

Jason Yetton, chief executive for CBA's wealth management and mortgage broking business (NewCo) is leaving the organisation in January.

Yetton was appointed in October of 2018 to lead the demerger of the wealth management and mortgage broking businesses, however the preparations were suspended in March to prioritise the implementation of recommendations from the Royal Commission.

Since March, Yetton has overseen the divestment of Count Financial Limited, and refunding customers for past issues in the wealth management business.

CBA CEO, Matt Comyn, said: "Jason has played a significant role in the divestment of Count Financial and planning for the exit of the aligned advice businesses, as well as making substantial progress on remediation activities across our wealth businesses. I thank him for his leadership of NewCo, and wish him the very best for the future."

CBA's exit of the aligned advice business remains on track for completion by June 2020.