Ralph Norris picked to run Commonwealth Bank

Commonwealth Bank said it hired Ralph Norris, now chief executive of Air New Zealand, to succeed David Murray as managing director. The choice of Norris, 56, was somewhat unexpected. Norris ran Auckland Savings Bank in New Zealand from 1991 to 2001, and joined Air New Zealand in 2002. Norris served as a member of CBA’s executive committee following the takeover of ASB by CBA in the early 1990s.