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Ian Mark Narev (born 22 April 1967) is a former managing director and chief executive officer of the Commonwealth Bank Group commencing these roles on 1 December 2011[2] and being succeeded by Matt Comyn.

Ian M Narev
Born (1967-04-22) 22 April 1967 (age 52)
Auckland, New Zealand
Citizenship New Zealand[1]
Alma materUniversity of Auckland
New York University
Cambridge University
OccupationCOO
EmployerSEEK

Narev was educated at Auckland Grammar School in New Zealand and holds an undergraduate degree from the University of Auckland as well as graduate degrees from Cambridge University and New York University.[3]

Early life and careerEdit

Ian Narev was born in Auckland to a Jewish family.[4] As a child, he starred in a New Zealand television series Children of Fire Mountain.[5]

From 1998 until 2007, Ian worked at McKinsey & Company, in the New York, Sydney and Auckland offices. He left to join the Commonwealth Bank.[6]. On April 1 2019 Narev was announced as the COO and CEO of the Asia-Pacific and Americas division of the Australian-based job-board SEEK.[7]

Commonwealth Bank scandalsEdit

On 7 March 2016 Narev formally apologised to customers following a 2014 exposé by ABC TV Four Corners and Fairfax journalists into serious irregularities concerning the refusal of claims of dying and seriously ill clients by the insurance arm of the Commonwealth Bank.[8][9][10] On 14 August 2017, Narev announced he would step down as Commonwealth Bank CEO within a year amid allegations the bank breached anti-money laundering laws on almost 54,000 occasions, effectively exiting Australia’s biggest bank in shame;[11][12] and the above fraud scandal that left thousands of CBA customers millions of dollars out of pocket.

ReferencesEdit

  1. ^ Ian Narev to take helm of CBA Archived 30 June 2015 at the Wayback Machine
  2. ^ Commonwealth Bank of Australia appoints Ian Narev as next CEO
  3. ^ "Executive profile-Ian Narev". Bloomberg BusinessWeek. Retrieved 6 March 2013.
  4. ^ "How a family's journey made Ian Narev". Financial Review. 7 June 2012.
  5. ^ "Children of Fire Mountain".
  6. ^ "Spotlight On: Ian Narev, CEO, Commonwealth Bank of Australia". 2013.
  7. ^ "Commonwealth Bank's former boss Ian Narev gets new job at SEEK". Australia: ABC News. 2 April 2019. Retrieved 9 September 2019.
  8. ^ "CommInsure: Who's who in the Commonwealth Bank's life insurance scandal?". Four Corners. Australian Broadcasting Corporation. 8 March 2016. Retrieved 6 October 2017.
  9. ^ Ferguson, Adele (5 May 2014). "Banking Bad" (transcript). Four Corners. Australian Broadcasting Corporation. Retrieved 1 March 2018.
  10. ^ Janda, Michael (4 July 2014). "Commonwealth Bank boss Ian Narev says sorry for multi-million-dollar financial planning scandal". Australia: ABC News. Retrieved 1 March 2018.
  11. ^ "CBA chief Ian Narev to step down within a year". Herald Sun. 14 August 2017. Retrieved 6 October 2017.
  12. ^ "Commonwealth Bank will take months to respond to AUSTRAC money laundering case". Australia: ABC News. 4 September 2017. Retrieved 6 October 2017.

External linksEdit