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​Suncorp Group on hunt for new CIO as Matt Pancino resigns

Suncorp Group has announced that recently reinstated CIO Matt Pancino has resigned from his position.

Suncorp Group has announced the resignation of chief information officer (CIO) Matt Pancino, effective April 29, 2016.

Pancino will be leaving to join Commonwealth Bank of Australia in September as executive general manager of retail and wealth in Enterprise Services, and will be reporting directly to CBA CIO and group executive David Whiteing.

A CBA spokesperson confirmed with ZDNet that Pancino will be commencing his new role in September, and will be responsible for looking after all retail banking and wealth management technology and systems at the bank.

Pancino was recently reinstated to the CIO role under the company's recent executive board reshuffle that was announced in February. Prior to that, he was promoted to the CEO position of Suncorp Business Services, following the resignation of Jeff Smith in June 2014. Pancino has also held other various roles since joining the company in 2010.

During his first stint as Suncorp's CIO, Pancino led the charge in the company's simplification program and technology projects, including the group's cloud environment and overhauling the core banking system.

"I would like to recognise and thank Matt for his contribution over the past five years, and wish him well in his future," said Michael Cameron, Suncorp CEO and managing director.

The company's search for a replacement is now underway.

Cameron said Clayton Herbert, Suncorp's chief transformation officer, will act as "caretaker" until a permanent replacement is appointed.

During half-year results, Suncorp Group outlined it was on track to reap AU$170 million in efficiency benefits by the 2018 financial year from its technology optimisation program. It also reported it achieved net profit after tax of AU$530 million, down from the AU$631 million that was recorded during the corresponding period from the previous year.

Updated Friday 1 April, 2016 11.06 a.m: Additional information supplied by Commonwealth Bank of Australia was inserted.