Former New Zealand prime minister Sir John Key will take over as chair of ANZ New Zealand next year.
Sir John will replace current chair, John Judge, who is due to retire in January after five years in the role and nine years on the board, ANZ said in a statement on Wednesday.
ANZ group chair David Gonski said Sir John's strong international career in banking and his understanding of and contacts across the Asia-Pacific will add great value to the governance of ANZ.
Sir John started his career in banking and finance in New Zealand before heading overseas where he became head of global foreign exchange at Merrill Lynch and later, a member of the foreign exchange committee of the Federal Reserve Bank of New York.
In 2008, he became prime minister of New Zealand, and last year he announced his resignation from politics.
Mr Gonski paid tribute to Mr Judge and noted the successful merger of the National Bank and ANZ brands and technology systems during his time as chair.
"John Judge's tenure has overseen significant change in the ANZ New Zealand business," Mr Gonski said.
The bank said Sir John had been appointed to the board on Wednesday, joining independent directors Tony Carter, Mark Berbiest and Joan Withers, and executive directors including local CEO David Hisco, ANZ group chief risk officer Nigel Williams and group chief executive Shayne Elliott.
