STEPHEN HALMARICK

Stephen has over 40 years’ experience as a bank and financial markets economist in Australia and is widely regarded as one of the best economic communicators in the country. He served as Chief Economist and Head of Global Economic & Markets Research at Commonwealth Bank of Australia (CommBank) from January 2018 to January 2025.

Throughout his career, Stephen has been recognized for his skill in presenting economic and market insights to all levels of audiences in Australia and globally, including Boards, C-suite, large client events, 1-1 client meetings, hedge funds, institutional investors, central banks and retail customers.

Stephen pioneered the use of internally generated data at CommBank, leading to the development of the Household Spending Insights (HSI) research product. He also initiated the Sustainable Economics research strategy at CommBank and in mid-2025 completed the University of Cambridge Institute of Sustainable Leadership (CISL) ‘Towards Net Zero’ course.

Stephen was also a Member-elected director on the Commonwealth Bank Group Superannuation Board (2016-2024) and was Chair of the Australian Business Economists (ABE) for 9 years (2008-2017).

In May 2025 Stephen established his own economics consulting business, Economics Unchained, providing economic presentation, consulting, advisory and research services.

In August 2025 Stephen was appointed as a Member (non-director) on the Investment Committee of UniSuper, one of Australia’s largest and most successful superannuation providers.

In February 2026 Stephen was appointed Senior Australian Analyst for the Observatory Group – an independent economics and geopolitical consulting firm based in Washington DC. Stephen is responsible for providing insights on the Australian economy, policy and markets to local and international clients of Observatory and growing the business in Australia.

Stephen’s previous roles include Chief Economist for Colonial First State Global Asset Management (2009-2017), Co-Head of Economic & Market Analysis for Citi Australia/NZ (2001-2009) and senior economic and financial market strategy roles at County NatWest/NatWest Markets/Salomon Smith Barney/Citibank (1994-2009), Nomura Research Institute (1993), DBSM/SBC Dominquez Barry (1989-1993) and Westpac (1986-1989).

Stephen holds a Bachelor of Economics from Macquarie University, a graduate diploma from the Securities Institute of Australia (SIA), he is a Graduate of the Australian Institute of Company Directors (AICD) and is accredited by the Australian Financial Markets Assoc (AFMA). He is a Life Member of the ABE.

Stephen resides in Sydney with his wife and has a blended family of six adult children. He enjoys traveling, snow skiing, water skiing, watching sport (rugby union and cricket), attending live music events, reading, politics, international affairs, and spending time with family and friends.