New CBA chief institutes Bankwest shakeup

by Adam Smith24 Jan 2012

New CBA chief executive Ian Narev has shaken up Bankwest's management structure, just over a month into his tenure at the bank's helm.

Current Bankwest managing director Jon Sutton will be replaced by CBA executive Rob De Luca. Sutton is tipped to return to an unspecified senior executive role at CBA, while De Luca will take on the role in Perth from 6 February.

Narev credited Sutton with turning Bankwest around after its acquisition by CBA in December 2008. The bank was plagued by loan losses following the takeover, but has seen a significant decline in bad debt charges under Sutton's watch.

"Jon took over Bankwest at a very challenging time in its history and has been very successful in leading Bankwest through these difficult times, maintaining and enhancing a competent and skilled workforce that is performing strongly in all dimensions," Narev said.

De Luca takes the reins of a banking arm that turned a $463m profit last year, up from a $45m loss the year before. De Luca has previously served in a number of senior executive positions within CBA, including his current position of executive general manager of retail and business banking.

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