Melbourne, Australia, 13 October 2008 - Baker & McKenzie has acted on one of the largest-ever placements in Australia, representing Credit Suisse, Citi, J.P. Morgan and CommSec, as placement agents appointed to advise Commonwealth Bank of Australia on its $2 billion equity fundraising to acquire Bank of Western Australia Limited and St Andrews Australia Pty Ltd from HBOS.

The Baker & McKenzie team, led by corporate Partner Ashley Poke working with Partners Craig Andrade, Frank Castiglia and Andrew Reilly, advised on the transaction, which was successfully executed in a period of unprecedented global market volatility.

Partner Ashley Poke commented, "It was very gratifying to be entrusted by our clients with such a significant transaction, especially in light of the current global credit crunch and difficulties associated with equity raisings, particularly in the banking sector."

Philippa Stone at Freehills acted for CBA with Sullivan & Cromwell acting as its US Counsel. Sidley Austin acted as US Counsel for the placement agents.