The Distillery: CBA cash cow

Jotters applaud Ian Narev’s steady stewardship of Commonwealth Bank, with one saying it holds a salutary lesson in long-term strategy.

Commonwealth Bank of Australia boss Ian Narev announced a 10 per cent improvement in the bank’s cash earnings to $7.8 billion and almost every business commentator in the country is taking note. Narev’s stellar start as successor to Ralph Norris is characterised less by driving a new revolution and more by securing the fruits of the one already in motion.

The Australian Financial Review’s Matthew Stevens says the “defining characteristic” of Narev’s first year and a half in the job is his “minutely focused discretion”.

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