In this file: /components/com_community/templates/jomsocial/layouts/profile/edit.php
I commented this code to hide it:
<?php if ($showProfileType) { ?>
<div>
<?php if ($multiprofile->id != COMMUNITY_DEFAULT_PROFILE) { ?>
<?php echo Text::sprintf('COM_COMMUNITY_CURRENT_PROFILE_TYPE', $multiprofile->name); ?>
<?php } else { ?>
<?php echo Text::_('COM_COMMUNITY_CURRENT_DEFAULT_PROFILE_TYPE'); ?>
<?php } ?>
<a href="<?php echo CRoute::_('index.php?option=com_community&view=multiprofile&task=changeprofile'); ?>"><?php echo Text::_('COM_COMMUNITY_CHANGE'); ?></a>
</div>
<?php } ?>
Kindly check.
