Bankwest names new MD

Commonwealth Bank of Australia (CBA) has announced the appointment of Rowan Munchenberg as the new managing director of Bankwest, effective 30 January 2017.

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

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

Commenting on his appointment, CBA CEO, Ian 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."

Munchenberg replaces former Bankwest managing director, Rob De Luca, who handed in his resignation in September 2016 and finishes up in the role at the end of the year.