Thursday, February 28, 2013

The Making Of A Tycoon

Ian Narev is currently the Managing Director and CEO of Commonwealth Bank in Australia. His ambition, drive and dedication to his work have afforded him tremendous success throughout his life and have made him a tycoon in his own right.

Narev is the youngest of three siblings born to Jewish Holocaust survivors who lost family members in the concentration camps. He has unfortunately had to face personal loss of his own, as he lost his first wife to breast cancer during 2003. He has overcome a great deal of adversity in his life and now lives with his current wife, whom he married in 2007, and his daughters in Sydney, Australia.

Narev is proud to be a former graduate of Cambridge University where he studied International Corporate Law. He graduated within the top of his class and received a prestigious Masters of Law degree from the internationally acclaimed university. Narev was also a student at New York University, where he studied International Relations as a Hauser Global Scholar. Amazingly enough, Narev has received undergraduate degrees in both English and Law from the University of Auckland and to add to his educational accomplishments, he served as Editor-in-Chief of the Law Review at the university.

Narev has an extremely impressive resume with equally impressive accomplishments. He worked as a lawyer with a specialty in mergers and acquisitions for a number of years. He then left this prestigious position to work for McKinsey & Company, an international consulting firm. He worked for the firm during the years 1998 - 2007. He worked in various locations, including New York, Sydney and Auckland. In 2003, he was brought in as an international partner and during the years 2005 - 2007, he managed the New Zealand office.

Narev left McKinsey in May 2007 to begin his career with Commonwealth Bank. He served as the Group Head of Strategy for almost two years and oversaw major business activities within the bank. He was primarily responsible for strategy development relating to corporations, mergers, acquisitions and large scale strategic initiatives. Narev oversaw the bank's $2.1 billion purchase of Bankwest in 2008 and the transactions relating to Aussie Home Loans.

In January 2009, Narev made a major change to his position and began serving as a Group Executive for the Business and Private Banking division. This was a challenging position that provided him with a number of responsibilities, including overseeing small and intermediary enterprise business banking. In addition, he also oversaw the agricultural business services and private banking services as well as the Commonwealth Securities brokerage and margin lending services. Narev served this position with great success until September 2011.

In December 2011, Narev achieved the ultimate success with Commonwealth Bank at which time he was appointed the Managing Director and CEO of the bank. His ambitious nature has served him well and he continues to add to the success of Australia's largest bank with a clear vision for the bank's future.

Narev also devotes his time to charitable organizations, a role that is very close to his heart and that he takes very seriously. He is currently Chairman of the Springboard Trust, a nonprofit organization that works with the heads of the lower decile primary schools in South Auckland. His efforts at Springboard are aimed at helping improve school effectiveness. Narev also serves as a Trustee to the Louise Perkins Foundation, an organization that helps females in the advanced stages of breast cancer. Additionally, Narev is the Ambassador to the Australian Indigenous Education Foundation, a private, charitable organization that works to empower Indigenous children who face poor financial circumstances.

About the author:

This has been a guest post from The CEO Magazine , a business publication dedicated to providing the best information for CEO's and other high-powered execs.

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