Subscriber Only
Australia's Biggest Bank Says CEO Will Retire Amid Money-Laundering Scandal
- Narev to leave by June 2018, has led bank for almost six years
- In latest hit, bank to refund sales of unsuitable insurance

Commonwealth Bank has started the search for a new CEO and confirms that Ian Narev will leave in July of next year. The bank's money laundering scandal comes amid revelations of systemic problems within its business. Australian Bankers Association CEO Anna Bligh says the fallout is being felt across the entire industry. (Source: Bloomberg)
Updated on