New guy, Leo, making speech of commendation (6)

I believe the answer is:

eulogy

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'speech of commendation' is the definition.
'eulogy' can be an answer for 'commendation' (eulogy is a kind of commendation). I'm not sure about the 'speech of' bit.

'new guy leo' is the wordplay.
'new' indicates anagramming the letters.
'guy'+'leo'='guyleo'
'guyleo' is an anagram of 'EULOGY'.

'making' acts as a link.

Can you help me to learn more?

(Other definitions for eulogy that I've seen before include "Formally expressed praise" , "Expression of high praise" , "Expression of praise for someone recently dead" , "Funeral speech" , "Funeral tribute" .)

I've seen this clue in the Sydney Morning Herald.

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