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How NetBank and CommBank Kaching can help you manage your everyday banking needs

Jun 27, 2013

Commonwealth Bank of Australia video

How NetBank and CommBank Kaching can help you manage your everyday banking needs

Commonwealth Bank of Australia video

CBA CEO Ian Narev talks Banking - full coverage

Commonwealth Bank of Australia video

CBA CEO Ian Narev on Bank Innovation - the technology important?

Executives

Ian Narev, 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.
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 44 and lives in Sydney with his wife and daughters.
David Craig, Chief Financial Officer
David Craig commenced as Chief Financial Officer of the Commonwealth Bank in September 2006.
He is responsible for the financial management frameworks of the Commonwealth Bank incorporating the areas of finance, audit, group treasury, security, procurement and investor relations.
David has over 30 years of experience in financial management, strategy, mergers and acquisitions. Prior to joining the Commonwealth Bank, David was the Chief Financial Officer for Australand where he was responsible for leading the finance, treasury, IT and investor relations functions.
Prior to joining Australand, David was Global Transition Finance Leader for IBM Business Consulting Service following the acquisition of PwC Consulting, where he held the title of Global Chief Financial Officer, based in Philadelphia, US.
David’s other posts have included Chief Operations Officer for PricewaterhouseCoopers Australasia and Senior Audit Partner for 15 years, specialising in banking, finance and management. He was a director of Australian Gas Light Company.
David is currently a director of the Victor Chang Cardiac Research Institute.
David’s professional qualifications include a Bachelor of Economics and a Fellow of The Institute of Chartered Accountants in Australia. He is a Member of the Australian Institute of Company Directors and a Member of the Finance and Treasury Association.
David is married with two children.
Alden Toevs, Group Chief Risk Officer
Alden joined the Group on 23 June 2008 as Group Chief Risk Officer. Alden provides leadership in ensuring effective risk management and risk governance across the Group and also acts as an advisor to the Bank’s Board and Executive Management on risk management.
Prior to commencing with the Group, Alden led First Manhattan Consulting Group’s risk management, MIS and mortgage banking practice areas for 15 years, and was lead consulting partner between 2000 and 2008. Over his eighteen years of consulting with First Manhattan, Alden has advised more than 100 banks globally on risk, strategy, mergers and performance measurement.
His former roles include Head of Mortgage Research at Morgan Stanley and in academia as Professor of Economics at University of Oregon in the United States. Alden has a Ph.D. with honors from Tulane University.

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