CBA Group Exec Insto Banking and Markets steps down

The Commonwealth Bank of Australia (CBA) has announced that Kelly Bayer Rosmarin, group executive institutional banking and markets, will depart her role, effective April 2018.

Bayer Rosmarin first joined CBA in 2004 and has held several senior executive positions across both the institutional and business banking divisions. She was appointed to her most recent position in December 2013. Prior to joining CBA, she was a management consultant with the Boston Consulting Group, and previously she spent time in Silicon Valley, USA, both in start-up and established software companies.

In a joint statement from CBA's CEO Ian Narev, and incoming CEO Matt Comyn, it was also announced that Melanie Laing, group exec human resources, will retire at the end of the year and that David Whiteing, group exec enterprise services and chief information officer, will leave the bank in April.

Narev said that "leadership transitions are inevitably a time of change in senior teams, as executives reassess their own plans", with Comyn adding that he is "focussed on building an executive leadership team that will work to exceed the expectations of [CBA's] customers."

Commenting on Bayer Rosmarin's departure, Narev said: "Kelly's understanding of the strategic opportunities and threats arising from technology change is outstanding. More broadly, [she] has been a major contributor over time to CBA's wider strategy. Kelly is a talented and passionate leader, who is widely respected at CBA. We thank her and wish her the very best."

Bayer Rosmarin added: "It has been an honour and a privilege to have contributed to the success of the Commonwealth Bank over the last 14 years, and to have been able to work with so many amazing people. I have been enriched by the opportunities afforded me, and am especially proud of CBA's track-record of leading innovation for our customers."

George Confos, currently EGM business and corporate finance, will take acting responsibilities for the institutional banking and markets division while a global search is undertaken to appoint Bayer Rosmarin's successor.