Women will represent half the Commonwealth Bank's group executive by the end of the year

Cameron Spencer/Getty Images

The Commonwealth Bank is relentlessly pursuing gender equality within its employees.

The board of directors is now one-third female — Catherine Livingstone, Launa Inman, Mary Padbury and Wendy Stops.

And by the end of the calendar year, 50% of the group executive team will be female.

The bank recently announced the appointment of Anna Lenahan who will become group general counsel and group executive of corporate affairs later this year. She is a direct report to CEO Ian Narev.

Narev says a major priority is to make the bank a place where people feel motivated to give their best regardless of gender, ethnicity, sexual orientation, age or whether they have a disability.

“We are pleased with progress on gender diversity, but we must sustain our efforts,” Narev said when releasing the bank’s full year results.

“We will also maintain our focus on cultural diversity, and generally creating an environment that reflects the diversity of the communities in which we live and work.”

The bank has reached its target of having women in 35% of executive manager and above positions.

A new target of 40% has been set to be reached by 2020.

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