Group Executive Profiles
Managing Director and Chief Executive Officer
Mr Narev commenced as Managing Director and Chief Executive Officer on 1 December 2011
Ian joined the Group in May 2007. From then until January 2009, he was Group Head of Strategy, with responsibility for corporate strategy development, mergers and acquisitions and major cross-business strategic initiatives. He led the Group’s $2.1 billion acquisition of Bankwest in 2008, as well as the Group’s investment in Aussie Home Loans.
From January 2009 until September 2011, Ian was Group Executive, Business and Private Banking, one of the Group’s six operating divisions, with responsibility for small and medium enterprise business banking, agri banking, private banking and the CommSec retail brokerage and margin lending businesses. The division’s annual profit after tax is approximately $1 billion. It has approximately 200,000 business customers, 1 million trading customers, and 15,000 private banking customers, and employs more than 4,000 people.
Prior to joining CBA, Ian was a partner of McKinsey & Company, the global consulting firm. He worked in McKinsey’s New York, Sydney and Auckland offices from 1998-2007. He became a global partner in 2003, and from 2005 until his departure in 2007 was head of McKinsey’s New Zealand office. Prior to joining McKinsey, Ian was a lawyer specialising in mergers and acquisitions.
Ian holds Masters of Law degrees from Cambridge University (International Corporate Law), where he was the top student in his year, and New York University (International Relations), where he was a Hauser Scholar. He also holds undergraduate degrees in English and Law from the University of Auckland, where he was Editor-in-Chief of the Law Review.
Ian is a member of the B20 Australia Leadership Group. The B20 leads engagement with the Group of Twenty (G20) governments on behalf of the international business community. In 2014, the B20 will focus on developing a set of clear, actionable recommendations which support the G20 agenda of promoting growth, creating jobs and building resilience in the global economy.
In the not-for-profit sector, Ian is Chairman of Springboard Trust, which works with principals of low-decile primary schools in South Auckland to help improve school effectiveness, a Trustee of the Louise Perkins Foundation, which helps women with advanced breast cancer, and our Ambassador for the Australian Indigenous Education Foundation.
Ian is 46 and lives in Sydney with his wife and children.