Group Executive Profiles
Managing Director and Chief Executive Officer
Ian Narev is the Managing Director and Chief Executive Officer of the Commonwealth Bank of Australia.
Commonwealth Bank is Australia’s largest financial institution, with a market capitalisation in excess of $100 billion. It has retail banking and wealth management operations in Australia, New Zealand, Indonesia, China and Vietnam, and an international institutional banking presence, focused in Australia and New Zealand, and more internationally in the areas of natural resources, infrastructure, transport and financial institutions. Commonwealth Bank has over $700 billion in assets, and also, through its asset management arm Colonial First State Global Asset Management, over $150 billion in assets under management. It employs over 50,000 people, has over 800,000 retail shareholders, and actively supports all communities in which it operates.
Ian joined Commonwealth Bank in May 2007 as Group Head of Strategy. In January 2009, he became the Group Executive for Business and Private Banking, with responsibility for small and medium enterprise banking, agri banking, private banking and the CommSec securities business. He assumed his current role in December 2011. His priorities as Chief Executive have focused on Commonwealth Bank’s strategic capabilities of people development, customer focus, technology, productivity and financial strength.
Prior to joining Commonwealth Bank, Ian was a partner of McKinsey & Company, the global consulting firm. He worked in McKinsey’s New York, Sydney and Auckland offices from 1998 to 2007. From 2005 until his departure in 2007, Ian was head of McKinsey’s New Zealand office. Prior to joining McKinsey, Ian was a lawyer specialising in mergers and acquisitions.
Ian holds a Masters of Law degree with first class honours from Cambridge University (International Corporate Law), and a Masters of Law degree from 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.
Ian is Chairman of the New Zealand-based Springboard Trust, which works with principals of primary schools to help improve school effectiveness, a director of the Sydney Theatre Company, a Trustee of the Louise Perkins Foundation, which helps women with advanced breast cancer, Co-Chair of the Advisory Board of the Juvenile Diabetes Research Foundation, and an Ambassador for the Australian Indigenous Education Foundation.
Ian lives in Sydney with his wife and three children.