Fintech fashion advance for CBA
The selection of the new group executive of international financial services for Commonwealth Bank reinforces a leaning to consumer growth markets for the bank outside of its domestic markets in New Zealand and Australia.A lawyer by training Coenraad (or 'Coen') Jonker has a recent fintech pedigree in South Africa and less experience in the wider world of banking. CBA announced his appointment, from July, yesterday.Jonker replaces Rob Jesudason, who will shift jobs to become the bank's chief financial officer from July.Jonker is a member of CBA's international financial services leadership team, with responsibility for digital transformation, the bank said. He was previously the co-founder and CEO of the TYME technology company from South Africa which CBA acquired in 2015.In his early legal career Jonker progressed to become chief executive of commercial law firm Edward Nathan and Friedland, a business absorbed into the Nedbank Corporate division of the entity now known as Nedcorp.Jonker served on the executive committee of Nedcorp while in that post from 2000 to 2005.From there he moved over to Standard Bank of South Africa as director, inclusive banking.