In anticipation of CEO elect Ian Narev commencing in his role of CEO designate from October 2011, CEO Ralph Norris and Ian Narven has appointed Grahame Petersen as group executive business and private banking.

Petersen has over 31 years of banking and financial services experience with the Group. Most recently, since 2006, he has led the Group’s Wealth Management businesses. 

Ian Narev said: “Grahame is a highly experienced executive, who is widely respected within the Group and in the financial services market more broadly.”

As a result of Petersen’s appointment, Ralph Norris and Ian Narev also announced a further two appointments. 

Annabel Spring currently the group head of strategy will be appointed group executive wealth management, also with effect from 1 October 2011. 

Meanwhile, Robert Jesudason will replace Spring as group head of strategy. Jesudason joins the Commonwealth Bank from Credit Suisse where his most recent role has been managing director and head of global emerging markets within the Financial Institutions Group based in Hong Kong.