The head of the Bank of New Zealand is to take over as group chief executive of the bank's Australian parent.
Andrew Thorburn will replace Cameron Clyne as group chief executive and managing director of the National Australia Bank from 1 August.
Mr Clyne is stepping down, saying the role has taken a toll on his personal life and he wants to spend more time with his family
Mr Thorburn has been at the helm of BNZ since 2008, but joined the group in 2005.
He will be paid a base salary of $A2.2 million plus incentives.
A replacement for Mr Thorburn will be announced in due course.
