ASB has appointed British international banker Charles Pink as its new Managing Director. Pink is replacing Hugh Burrett, who has been 7 years in the top job in New Zealand after taking over from Ralph Norris, who is now the CEO of ASB's parent CBA.

Pink is joining ASB from Barbados based FirstCarribean International Bank, where he was founding CEO. He had previously worked at Barclays for 18 years.

"The Board had conducted an international search for a replacement for Mr Burrett, who was standing down after seven years in the top post, and a 40 plus year career with ASB.  Candidates for the ASB role included senior New Zealand and Australian bankers and financial services executives," said ASB chairman Gary Judd.

"In size, commitment to customer service, employee engagement and involvement with the community, FirstCaribbean shares many similarities with ASB," Judd said.

FirstCaribbean offers a full range of market-leading financial services in corporate, business and personal banking, treasury, wealth management, credit cards and capital markets.  With more than 800,000 customers, it is the largest, regionally-listed bank in the English-speaking Caribbean, with assets in excess of US$12 billion, more than 3500 staff, over 100 branches and offices in 17 countries.

Judd said that outgoing Managing Director, Hugh Burrett, advised the board earlier in the year of his desire to move aside from a day-to-day management role.

"He was one of the architects of transforming ASB from a retail, regional bank more than 20 years ago into today's nationally operating, full service financial services group."