Westpac New Zealand has appointed former Federated Farmers president Malcolm Bailey to its board.
Bailey has been a director of Fonterra since 2004 and is chairman of the Dairy Companies Association of NZ.
Prior to farming, Bailey was an economist with the Reserve Bank and is a former Reserve Bank external monetary policy adviser.
"Malcolm brings a wealth of experience and a number of skills that will be valuable to the board," Westpac New Zealand chairman Peter Wilson said in a statement.
Bailey replaces former Fletcher Building chief executive, Ralph Waters, who joined the Westpac board in 2006. The appointment is effective September 1.