Commonwealth Bank will promote David Cohen to chief risk officer after Alden Toevs decided to step down at the end of the current financial year.
Mr Cohen has been CBA's general counsel for eight years and also leads the bank's corporate affairs team.
"He has increasingly become involved in key risk decisions and processes at CBA, and so this is a logical next step for him and for the group," chief executive Ian Narev said.
Mr Toevs will continue to work with Australia's largest bank for at least two more years as a director on subsidiary boards.
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