He will succeed Stephen Halmarick, who is departing after 15 years at the bank
The Commonwealth Bank (CBA) has announced the appointment of Luke Yeaman (pictured above) as its new chief economist and head of global economic and markets research, effective March 3, 2025.
Yeaman, currently deputy secretary of the Department of Treasury and head of its macroeconomic group, brings more than 20 years of experience in economic and government roles. He has held senior positions across the Treasury, the Department of the Prime Minister and Cabinet, and the Office of National Intelligence.
As deputy secretary, Yeaman oversees macroeconomic conditions and forecasting, including inflation, fiscal policy, and climate and energy policy. He has also represented Australia in global economic forums and served as the country’s G20 finance deputy.
Andrew Hinchliff, CBA’s group executive for institutional banking and markets, said Yeaman’s appointment strengthens the bank’s ability to deliver valuable insights to clients.
“Luke brings a deep understanding of the Australian economy and its position in the global macroeconomic environment,” Hinchliff said. “His experience representing Australia on the global stage will be valuable for our clients both at home and abroad.”
Hinchliff added that Yeaman will have access to advanced artificial intelligence tools and one of Australia’s most comprehensive financial data sets to provide nuanced insights into the macroeconomic landscape.
Yeaman succeeds Stephen Halmarick, who announced his departure earlier this year after a 15-year tenure with the bank. Halmarick has served as chief economist and head of global economic and markets research since May 2020.
During his time at CBA, Halmarick expanded the bank’s data-driven economic analysis, developing tools like the Household Spending Insights Index and growing its Sustainable Economics research to support clients navigating the transition to a lower-carbon economy.
Yeaman, who holds a bachelor of economics from Monash University, will report to Hinchliff in his new role.
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