Organizational Change Management at Commonwealth Bank of Australia

Running head: MANAGEMENT
Organizational Change Management
Name of the Student:
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Executive Summary:
The aim of the report is to provide a review of organizational change management of the
Commonwealth Bank of Australia (CBA) in relation to a turbulent time faced by the bank. The
report puts forward discussion about the turbulent times faced by the bank in relation to money
laundering and financial and insurance scams. The report discusses how the incompetency in
leadership of Ian Narev led to such turbulent times in CBA. The report also shows how it
overcame the barriers under the leadership of Matt Comyn who took judicious and thoughtful
steps to rebuild the trust of the Australian people.

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Table of Contents
Introduction:....................................................................................................................................3
Comprehension of the Turbulent Times Faced By CBA.................................................................3
Reasons for the Turbulent Times at CBA........................................................................................5
Steps CBA took to Overcome Turbulent Times..............................................................................7
Conclusion:....................................................................................................................................10
References:....................................................................................................................................12

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Introduction:
The report aims at providing an insight into organizational change management of
Commonwealth Bank of Australia (CBA) (commbank.com.au, 2019). Organizational change
management represents the framework for managing impact of newer business process, change
in the organizational structure or the culture change within the enterprise (Cameron & Green,
2015). It is one of biggest bank of Australia that went through a turbulent time in dealing with a
money laundering scandal during the tenure of Chief Executive Officer and Manager Director,
Ian Narev. The money laundering faced by the bank adopted techniques that involved multiple
people who made deposits in various branches across the network for avoiding any kind of
detection. It even involved piggybacking on the legitimized international funds made by the
unwitting customers. The bank has also faced discrepancies in financial planning and insurance.
CBA has been one of the renowned multinational banks in Australia with branches in New
Zealand, Asia, United States and United Kingdom. CBA is known to provide various kinds of
financial services that included business, retail and institutional banking, fund management,
superannuation, insurance, investment and the broking services. The bank also finds a listing in
the Australian Stock Exchange. The report put across a vivid picture of instances of money
laundering scams within the bank. The report also puts forward a picture of the organizational
change management adopted by the bank in overcoming the turbulent times.
Comprehension of the Turbulent Times Faced By CBA
According to the reports of August 2015, Commonwealth Bank of Australia is considered
the largest bank to have a listing on Australian Securities Exchange. However, the company had