Sir John Key is retiring from all ANZ boards.
The bank announced the former prime minister would stand down on March 14, with the Board of ANZ appointing Scott St John as new chair.
Paul O’Sullivan, ANZ chairman, said in a statement this morning: "Sir John has made an enormous contribution to ANZ with his unparalleled international business and political experience playing a critical role in our ongoing success.
"As a board, we will miss his wise counsel, global insights and good humour and we wish him and his family the very best for the future.
In a statement, released by the bank with the announcement, Sir John said: “I’m proud to have played my part in making ANZ a better company for our customers, shareholders and employees over the past six years."
Sir John was New Zealand's 38th Prime Minister, serving from 2008 until 2016.
After retiring from his career in politics, Sir John was appointed ANZ chair in January 2018.
O'Sullivan described Sir John's replacement as "ideal".
“Scott St John’s deep business experience, particularly in financial markets, makes him an ideal replacement for Sir John as Chair of ANZ New Zealand.
"He has served admirably on the ANZ New Zealand Board since 2021 and we look forward to welcoming him to the Group Board next month."
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