SYDNEY, Sept 2 – The Commonwealth Bank of Australia (CBA) announced on Monday that Ian Saines had resigned as the bank ‘s head of institutional banking and market.
CBA Chief Executive Officer (CEO) Ian Narev (photo) announced Saines will leave the company at the end of 2013, China’s Xinhua news agency reported.
Saines has been with CBA since 2004 and was appointed Group Executive, Institutional Banking and Markets in 2009.
“During the past four years, Ian has been a valued and highly- regarded member of the group’s executive committee,” Narev said in a statement on Monday.
“Importantly, Ian led the business through the challenging GFC (global financial crisis) period and through to the most recent financial period where the continued progress of the Total Capital Solutions strategy led to a 10 percent lift in profits.”
Saines said he was looking forward to move on to a new phase in his career.
“I consider my current role to be one of the best in Australian banking, so a decision to stay would have been easy,” he said in a statement.
“However, the strength of the business and the outstanding quality of its talent gives me the opportunity at this time to move on to a new phase in my career.”
CBA CEO Narev said the bank would undertake a global search as well as an assessment of internal candidate pool for a replacement for Saines.
– BERNAMA
