Former ASB CEO Barbara Chapman joining BNZ's board as an independent non-executive director from October 1

Former ASB CEO Barbara Chapman is joining rival BNZ's board as a director.

BNZ says Chapman will join the board as an independent non-executive director from October 1. BNZ Chairman Doug McKay says he's delighted to welcome Chapman on behalf of BNZ's board.

Chapman was ASB's CEO and managing director from 2011 until 2018. Prior to that she was a group executive at ASB's parent Commonwealth Bank of Australia, where she worked alongside Ross McEwan, who is now CEO of BNZ's parent National Australia Bank.

Since leaving ASB Chapman has been an adviser to Finance Minister Grant Robertson on the review of the Reserve Bank Act, and a member of the Prime Minister's Business Advisory Council. She also chairs Genesis and NZ Herald publisher NZME, as well as serving as a Fletcher Building director.

“Barbara is a fantastic addition to the BNZ board. She brings with her an enormous depth of knowledge of the banking industry, a passion for people and culture, sustainability and strong governance. I look forward to her contribution,” McKay says.

Chapman herself says she's "delighted to be joining the BNZ team and supporting their focus on a great culture and great customer experiences.”