Comyn to replace Narev as CBA chief


The Commonwealth Bank has appointed Matt Comyn as the company’s next chief executive, replacing outgoing chief Ian Narev.

Currently serving as the head of retail banking, Comyn will step into his new role on 9 April 2018, following Narev’s more than six-year tenure as CBA chief.

“The Board is delighted that Matt Comyn has accepted the offer to lead the Commonwealth Bank,” said Catherine Livingstone, CBA chair. “We believe he was the outstanding candidate, best placed to lead the bank at an important time in its history.”

“Matt’s appointment will enable a smooth transition to new leadership, as CBA responds to the current regulatory processes and legal proceedings, accelerating the related changes and improvements already underway,” said Livingstone.

With the bank beset by a number of controversies, Comyn said he is committed to “rebuilding trust” in the institution.

“The last six months in particular have been very challenging and I am committed to working with the Board, the executive team and our wonderful people to rebuild trust in the Commonwealth Bank together, said Comyn.

“It is important that we maintain the momentum underway, upgrading and strengthening our governance, accountability and risk management, while delivering strong financial performance, he added.

“We are in a period of significant technology and competitive change, and I look forward to ensuring we remain at the forefront of technology, innovation and a great customer experience.”