Mr Pancino will join CBA in September as executive general manager for retail and wealth in enterprise services.
“The role is responsible for looking after all retail banking and wealth management technology and systems at Commonwealth Bank," a CBA spokesperson told InvestorDaily.
Suncorp announced that current chief transformation officer Clayton Herbert will fill the CIO role as caretaker until a permanent replacement is appointed.
In a statement to the ASX, Suncorp chief executive Michael Cameron thanked Mr Pancino.
“I would like to recognise and thank Matt for his contribution over the past five years, and wish him well in his future,” Mr Cameron said.
Mr Pancino worked for Suncorp since 2010 in various roles, most recently as CIO with responsibility for digital enablement, cloud and infrastructure services, programs, and innovation labs.
Mr Pancino’s resignation will be effective from 29 April.
The news comes two months after Suncorp reshuffled its senior leadership team.
Suncorp named John Nesbitt as the chief executive of the company's banking and wealth business, where he will be responsible for product development and pricing, and the provision of banking and wealth management services.
Along with Mr Nesbitt, Suncorp's current chief executive of commercial insurance, Anthony Day, was elevated to CEO of the group's insurance business.
Mr Day will be accountable for product development and pricing, claims management and operational delivery for personal, and commercial and life insurance services.
Suncorp also appointed Mark Reinke as chief executive of customer experience, Gary Dransfield as CEO of customer platforms and Amanda Revis as chief people experience officer.
Anna Lenahan was named as the new chief risk and legal officer, and Clayton Herbert as chief transformation officer.
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