Rob Coombe named executive chair of Colonial First State

Former MLC Wealth and current Generation Development Group chair Rob Coombe has picked up a new position. He has been named the executive chair of the new company that will be established when the sale of the majority of Colonial First State to KKR is completed later this year. Until the sale is completed, Coombe will act in a consulting capacity.

Coombe has a history of high-profile positions across finance, including looking after Westpac's domestic retail, business, and agriculture banking operations. He was also the CEO of BT Financial Group. Outside of the industry, Coombe spent several years as chair and CEO of Craveable Brands, the largest quick-service restaurant business in Australia, which includes Red Rooster and Oporto.

As a director, Coombe is currently the chair of Tibra Capital and deputy chair of Surfing Australia. He's also a director for CIMB Group, a universal bank covering the ASEAN region. He was executive chair with Generation Development Group for three years before stepping into a non-execuitve chair role in mid-2020.

CBA deputy CEO David Cohen praised Coombe in announcing his appointment. "We are delighted to welcome an executive of Rob's calibre to the team, with his strong skills in superannuation and funds management, and a proven track record improving customer experiences.

"As executive chair, he will play a key role in helping make CFS one of the most competitive superannuation and investments businesses in Australia, which will benefit its members and support future growth."