31 Jul 2008

BNZ chief to head NAB

10:04 pm on 31 July 2008

The head of the Bank of New Zealand, Cameron Clyne, is to become the next chief executive of its owner, National Australia Bank.

Mr Clyne, who has run the BNZ since January 2007, has been a member of the group's executive committee for more than four years and will take over from John Stewart from 1 January.

Mr Clyne will become chief executive designate on 1 October to ensure an orderly handover from Mr Stewart.

Meanwhile, Andrew Thorburn will become the next chief executive at the BNZ. He is currently head of NAB's retail bank in Australia.