Commonwealth Bank of Australia Boosts Carbon Business with Senior Appointment

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Commonwealth Bank of Australia’s (CBA) Institutional Banking & Markets (IB&M) division has appointed new managing directors to the leadership team of its recently created Commodities, Trade and Carbon (CTC) business.

The new appointments will report to Executive General Manager CTC Alex Toone, as CBA looks to expand its capabilities for clients across commodities finance and trading, trade finance and carbon markets.

Taking responsibility for the bank’s carbon markets business, Dr Yasmina Elshafei has been named as Managing Director, Global Carbon.

She was most recently an Executive Director at climate change advisory and investment firm Pollination Group, and prior to that was a Senior Vice President at Macquarie Capital supporting large-scale infrastructure and renewable energy projects internationally.

Elshafei has extensive experience in renewable energy development and possesses a broad range of transaction expertise encompassing capital raising, project financing, principal investment and divestment, corporate strategy and blended finance in both developed and emerging markets, natural capital investment, nature-based solutions project development and net zero corporate strategies.

CBA also added Martyn Whitehead as Managing Director, Commodities, leading the bank’s strategy for its commodities business with a focus on Australia and New Zealand, and

Bradley Campbell has been appointed Managing Director, Commodities Trading and will join CBA from the Australian Securities Exchange (ASX) where he served as Acting Co-Head Group Executive, Markets and General Manager, Equities and Commodities.

The CTC business division was launched in February this year as part of a focus on embedding climate and digital capabilities in IB&M at CBA.

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