(Bloomberg) --
Commonwealth Bank of Australia's most senior economic and currency strategists are leaving after a restructure of the research department.
Michael Blythe, the chief economist who worked at the bank for 24 years, and Richard Grace, chief currency strategist and head of international economics, are departing the Sydney-based lender, according to a statement Thursday.
“We have decided to consolidate the roles of chief economist and head of global economic & markets research into one,” Rebecca Riant, chief operating officer, institutional banking & markets, said in a statement. That position will be held by Stephen Halmarick.
“With 35 years' experience as an economist in the Australian financial markets industry including two years leading the CBA Research team, Stephen Halmarick is well qualified to take on the role of both chief economist and head of global economic & markets research at CBA,” Riant said.
Blythe is due to stay on at CBA for a couple more months.
To contact the reporter on this story: Michael Heath in Sydney at mheath1@bloomberg.net
To contact the editors responsible for this story: Paul Jackson at pjackson53@bloomberg.net, Alexandra Veroude, Edward Johnson
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