Executive team shake-up at Commonwealth Bank
The Commonwealth Bank of Australia (CBA) has announced a number of changes to its senior executive team.
Group executive business and private banking Grahame Petersen has signalled his intention to retire at the end of 2014 after 35 years with the group.
Petersen will remain on several subsidiary boards after his retirement, chief executive Ian Narev said.
Group executive international financial services Simon Blair will depart from his role on 31 October.
He will relocate to London for "personal reasons", Narev said.
He will continue to represent CBA on boards in China, New Zealand and the UK. He joined CBA in 2006 as CEO of sovereign insurance and joined the executive committee in 2009 to look after the group's Asian businesses.
Group executive group strategic development Rob Jesudason will replace Blair from 1 November, but will continue to look after group strategic development for a little while.
He joined CBA in 2011 and has 20 years' experience in financial services around the world.
CBA said an external and internal search is on to fill Petersen's role, and will do so by the end of the year.
AUTHOR
Malavika Santhebennur
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