According to CBA, McEwan will leave later this year to fill the vacancy at the British bank that was created in November last year, when Brian Hartzer left for Westpac.

In 2003, McEwan joined CBA and worked on senior executive positions with the group’s New Zealand subsidiary ASB before accepting his current role in 2007.

Commonwealth Bank of Australia chief executive officer Ian Narev said that for the last five years, he has been a highly valued member of the group’s executive committee.

"During that time, his leadership of retail banking services has led to all-time highs in customer satisfaction, a strong performance for shareholders and a high level of people engagement," Narev added.