Ian Narev - the former boss of ASB parent Commonwealth Bank of Australia - has found a new job at recruitment company Seek.

Narev grew up in Auckland and left the CBA role a year ago after a money laundering scandal.

He has now been appointed group chief operating officer and Asia Pacific & Americas CEO of Seek.

The move is seen as a come-down for Narev who oversaw CBA which has a current market value of A$126 billion ($131.9b) compared to Seek's $6.1b.


Narev will work closely with Andrew Bassat, Seek Group CEO and co-founder who said Seek would benefit from Narev's track record of being a proven, successful CEO of a complex organisation with a "deep strategic thinking ability" and an "excellent understanding of the disruptive impact of technology".

"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 confident that his extensive experience, strong personal values and business acumen will complement those of the current executive team."

Narev said he was attracted to the role and it involved progressing Seek's future growth opportunities.

"I found that irresistible."

Narev was at CBA for over 10 years and was made CEO in July 2011 following in the footsteps of Kiwi Ralph Norris.

During his time as CBA chief executive Narev oversaw a record run in profits at the bank but his achievements were overshadowed by the money laundering breach scandal which resulted in a record A$700 million fine.

CBA, also came under fire alongside other banks for its actions as part of the Australian Royal Commission into misconduct in the finance sector.


Narev graduated from Auckland Grammar School in 1984 and went on to claim a senior law prize from Auckland University - a scholarship to continue his studies at Cambridge.

He graduated as the top LLM student in 1994 and went on to gain a second masters at New York University in 1998.

In the same year, Narev joined high-powered management consultants McKinsey and began working with some of the United States' largest financial institutions.

He shifted to the firm's Sydney and Auckland offices in 2002 before becoming the head of McKinsey's New Zealand operations in 2005.

In 2007, he moved to Australia as group head of strategy for Commonwealth Bank.