Mr Murray was presented with the Honorary Doctorate of the University in recognition of his significant contribution to the Australian Financial Industry and the Australian economy.
Murdoch’s Deputy Chancellor Eva Skira said Mr Murray had enjoyed an outstanding career in banking and that his role in the industry was one of the most significant in the Australian finance sector.
“In his 13 years as Chief Executive, the Commonwealth Bank transformed from a partly privatised bank with a market capitalisation of $6 billion in 1992 to a $49 billion integrated financial services company,” Ms Skira said.
“Today it is one of Australia’s top 10 listed corporations, and is testament to David’s leadership and vision.”
Mr Murray joined the Commonwealth Bank in Sydney straight out of high school and rose through the ranks to become the organisation’s Chief Executive Officer in 1992.
Ms Skira said she first met Mr Murray in the 1980s at the Commonwealth Bank in Sydney.
“David was highly intelligent and analytical but he also had an irreverent manner that meant he was always testing and pushing professional boundaries,” she said.
“He would question why old rules needed to be followed and why people weren’t being more innovative and productive.
“David also has a quick wit, a refined sense of humour, and when he was young a bit of Australian larrikinism, an endearing quality of his leadership.”
Retiring from the position of CEO in 2005, he was then announced as the Chairman of the Future Fund. The Fund is an independently managed investment fund set up to meet the government’s future liabilities for the payment of superannuation to retired public sector workers.
Mr Murray also has a Bachelor of Business from the NSW Institute of Technology and a Master of Business Administration, commenced at Macquarie University and completed at the International Management Institute, Geneva. He holds an honorary PhD from Macquarie University and is a Fellow of the University of Technology, Sydney.