Powered by MOMENTUM MEDIA
subscribe to our newsletter

Former CBA boss joins SEEK

Former CBA chief executive Ian Narev is joining SEEK at the end of the month in a newly created dual role.

SEEK Group has announced that the former chief executive of the Commonwealth Bank of Australia (CBA) has been appointed to its newly created dual role of group COO and CEO of Seek’s Asia Pacific & Americas (AP&A) business, effective on 29 April 2019.

Mr Narev will replace former AP&A CEO Michael Ilczynski, who is taking an extended leave of absence from mid-July 2019.

According to SEEK’s disclosure to the Australian Securities Exchange, the appointee will work closely with SEEK Group co-founder and CEO Andrew Bassat on “strategy development and operating priorities” for the group.

Commenting on Mr Narev’s appointment, Mr Bassat said: “[W]e will benefit from his track record of being a proven, successful CEO of a complex organisation.

Advertisement
Advertisement

“Throughout the process we undertook, it became clear that Ian has enormous value to bring to our organisation and is the stand-out person for this role.

“I am excited to be working with Ian, and I am confident that his extensive experience, strong personal values and business acumen will complement those of the current executive leadership team.”

Mr Narev was at the helm when CBA reported record profits.

The former CBA chief executive also presided when the major bank landed a record $700 million fine for breaches of anti-money laundering and counterterrorism laws and when the Australian Prudential Regulation Authority released its report censuring CBA for “inadequate oversight”, “unclear accountabilities” and “a widespread sense of complacency”, among other failings.

Mr Narev, who led CBA for a little over six years, said the opportunity to join SEEK was “irresistible”.

PROMOTED CONTENT


“SEEK is already an extraordinary Australian global success story and is well known for its innovative and progressive culture. Playing a part in helping SEEK to have a positive impact on an even bigger scale is tremendously exciting,” he added.

Mr Bassat also thanked Mr Ilczynski for his contribution to SEEK for the last 13 years, saying that he would be “highly supportive” of the former AP&A CEO to return to the company in a “suitable capacity”.

[Related: Long-term Macquarie executive to step down]


Former CBA boss joins SEEK
Ian Narev
mortgagebusiness

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Early bird tickets are on sale now. Work smarter, not harder, this year.

Reporter

If you have any news, ideas or enquiries for Mortgage Business - please contact This email address is being protected from spambots. You need JavaScript enabled to view it.

Latest News

The major bank has confirmed that it will not proceed with the demerger of its New Zealand business. ...

The Senate has passed a bill that will establish an authority that ASIC and APRA are accountable to, two years after it was recommended by t...

The big four bank has said that it has increased its serviceability floor rate to ensure it continues to lend responsibly, and has predicted...

How long do you think it should take to discharge a mortgage?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.