Commonwealth Bank appears to have settled on a more conservative stance toward management of its treasury and markets function with the departure of the head of treasury and head of markets and the separation of management of each function.CBA said yesterday that Marten Touw, its executive general manager, global markets and treasury and Vincent Hua, its general manager, products and trading, global markets and treasury were leaving the Group.The bank said in an announcement that it separated responsibility for its treasury and global market functions.Lyn Cobley, currently executive general manager, balance sheet management will assume responsibility for the treasury function. Cobley used to head the securitisation group at CBA in the 1990s, before taking time out with Fairfax during the dot com boom. She returned to banking via Ambac, Barclays Capital and CBA, rejoining the bank earlier this year.CBA said Ian Saines, executive general manager institutional banking, will manage global market operations. The bank seems to have managed treasury and markets under the one person for only a short period of time. In a briefing by all the top executives of CBA's premium business services division in May, Marten Touw said he'd been "been running the global markets and treasury business the last six, seven, eight, nine months.  The form we've been trying to do is to make the business more relevant."Relevant, however, might have meant riskier in practice. The Financial Review over the last week has reported on aspects of CBA's recent management of its trading desk. Last week the AFR reported the bank curtailed risk limits for many traders, with many more decisions escalated higher up management ranks than before. The AFR also reported on a series of reviews in recent months by CBA of its treasury operations including by the Australian Prudential Regulation Authority, PricewaterhouseCoopers and First Manhattan Consulting Group.That first report also referred to a "trading strike" by Hua (who was, however, recuperating from a serious car crash).Yesterday the AFR reported CBA incurred a $50 million loss in June.CBA in its announcement yesterday said the changes in management of its treasury and market functions was "not related to recent unsubstantiated market rumour and press speculation about trading losses".