CBA Group Treasurer to step down

The Commonwealth Bank of Australia's (CBA) group treasurer, Paolo Tonucci, will step down from his role, effective March 2018.

Tonucci, who first joined CBA in January 2014, is responsible for CBA's funding, asset and liability management (ALM) and capital management, with oversight of teams in Sydney, Auckland, London and New York.

Previously, he worked at Barclays Group, where he managed the US treasury area for the investment bank, the group balance sheet management team, and Barclays group funding and liquidity management. Prior to this, he was a managing director of Lehman Brothers.

At CBA he will be replaced by Terry Winder, who is currently the CEO at Hastings Funds Management.