CBA exec to lead non-major bank

By Annie Kane

23 November 2016

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The head of Commonwealth Bank of Australia’s South African business is to become the new managing director of Bankwest at the end of January next year.

In September of this year, it was announced that the current managing director of the CBA-owned non-major bank, Robert De Luca, will step down from his role by the end of 2016.

Mr De Luca said at the time: “It has been a privilege to have played a role in the group since 2000. I have witnessed CBA continue to set and achieve even higher standards.

“The strength of Bankwest and the quality of its talent give me the opportunity to start a new phase in my career.”

The CEO of Commonwealth Bank of Australia, Ian Narev, has now revealed that Rowan Munchenberg will take over the role of managing director of Bankwest on 30 January 2017.

Mr Munchenberg joined the Commonwealth Bank in 2001 and has held a number of senior executive roles across retail, business and institutional banking businesses. He currently lives in Johannesburg, where he has been leading CBA’s South African business and building its digital growth strategy.

Before joining CBA, Mr Munchenberg held senior product and leadership positions in Telstra, including CEO of BigPond.

He will relocate to Perth and commence his role as managing director in January next year.

Mr Narev said: “Rowan is a values-driven and people-focused leader. This, coupled with his expertise in technology and innovation, make him the ideal person to lead Bankwest.

“Under Rowan's leadership, we remain committed to investing in Bankwest's unique brand and customer proposition.”

[Related: ‘We’re putting things right’, says CBA]