CBA’s chief executive office Matt Comyn said Ms Mulhern is a “respected leader”. She will bring “extensive legal experience” with her to the role, which is expected to begin in January 2020 subject to meeting regulatory requirements.

“Carmel is a respected leader with extensive legal experience, a proven track record in risk management, a strong focus on doing what is right for customers, and personal and professional values that are aligned with the culture we are building at the bank,” Mr Comyn said

“I am delighted Carmel is joining the executive leadership team.”

Ms Mulhern joins CBA from Telstra, where she is currently group general counsel and group executive legal and corporate affairs. In this role, Ms Mulhern was responsible for providing legal advice to Telstra’s board, CEO and senior management.

According to CBA, she has also had the responsibility of engagement with stakeholders, including in government, regulators, media and community. Prior to this, she was group counsel at Telstra from 2012. Since joining, she has held the position of general counsel finance and administration and Telstra’s company secretary, reporting to the board.

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CBA has also appointed Scott Wharton to the role of group executive, program delivery.

“These two appointments considerably strengthen the capability and capacity of the executive leadership team to provide the leadership and expertise we need to help CBA become a simpler, better bank for our customers and for all of our stakeholders,” Mr Comyn said.