Commonwealth Bank of Australia (ASX:CBA) has announced the retirement of Grahame Petersen, the Group Executive Business and Private Banking.
Mr Petersen has been with the bank for nearly 35 years and will step down at the end of this year.
CEO Ian Narev says Grahame is widely admired and that his experience and strategic thinking made a significant contribution.
The bank also announced that Simon Blair will step down as Group Executive International Financial Services at the end of October.
Mr Blair will stay with the bank, representing the Group on boards in China, New Zealand and the UK.
Commonwealth Bank reported a net profit of $4.2 billion in the first half of the 2014 financial year.
