Leading industry figures John Gall and Fergus Ryan were among those honoured in yesterday's Australia Day celebrations for their contributions to the banking and finance industries.

John Gall, a former National Australia Bank executive, managing director and now a consultant for Franklin Templeton Investments Australia Limited, was awarded an OAM (Order of Australia Medal) in yesterday's honours List.

The Award was "For service to the Banking and Finance sector, and to the Community."

Gall was honoured for his role in developing Australia's relationships in trade, finance and investment with the Asian countries, in particular Japan, South Korea,China, Thailand and Taiwan during the 1970' and 1980's.

He was also recognised for his leadership role in the financial services industry through his involvement in the development of the ASX Shares settlement system, the development of the Master Custody system in Australia for Super funds and later the Founder in 1994 of the Australian Custodial Services Association.

Fergus Ryan was honoured with Officer of the Order of Australia (AO) for distinguished service to the business and finance sectors as an executive and adviser, and to the community through philanthropic contributions to cultural, social welfare and educational organisations.

Ryan has been a member of the Commonwealth Bank Board since 2000 and is chairman of the Audit Committee and a member of the Risk Committee.