Colonial First State announces appointment of
new Group Chief Executive Officer

Following an extensive global search, Colonial First State (CFS) has today announced the appointment of Mr Clive van Horen to the role of Group Chief Executive Officer, commencing on 15 January 2024.

Clive van Horen brings a wealth of financial services experience to CFS, most recently as CEO of Suncorp Bank, and prior to that as a senior executive at CBA across a number of executive leadership roles.

Announcing the appointment, Mr Rob Coombe, Executive Chairman of CFS Group since April 2021, said that consistent with the plan that had been put in place with shareholders, now was the right time to appoint a Group Chief Executive Officer to run the overall day to day business.  

Mr Coombe will remain closely engaged with the business as non-Executive Chairman, having successfully completed the sale process to KKR, subsequent separation from CBA and established the plan and the team to enable CFS to build a successful business over the next 5 years.

“Clive is a highly capable executive with a proven track record that has seen him deliver impressive customer and business outcomes in a variety of settings” said Mr Coombe.

“I know that Clive will make a significant contribution to CFS and ensure we deliver on our ambitious transformation and growth plans”, added Mr Coombe.

In response to his appointment, Mr van Horen recognised the significant progress that has been made in modernising and transforming the business and the exciting opportunity that CFS has ahead of it. 

“I’m thrilled to be joining CFS. Having worked alongside the business for many years during my time at CBA, it’s very exciting to see the huge strides that CFS has made in recent years under Rob’s leadership. 

The business has a vitally important purpose to help Australians achieve financial freedom and I am looking forward to helping CFS’ almost one million members and investors achieve their goals and aspirations,” said Mr van Horen.

Mr Coombe will continue in his capacity as Executive Chairman of CFS Group until Mr van Horen commences in his new role on 15 January 2024, thereafter, transitioning to non-Executive Chairman.