Third bank appoints female CEO

Donna Cooper will take over as chief executive of TSB Bank on July 23. Photo/Supplied.

TSB bank has appointed a new chief executive - the third bank to name a female boss in the last year.

Donna Cooper will take the top job at the New Zealand bank on July 23 taking over from interim managing director Murray Bain who will step back into a board role.

Bain had been temporarily managing the business since February when its long-serving CEO Kevin Murphy resigned.

Cooper who was previously the chief executive of The Warehouse Financial Services Group and worked for Baycorp and American Express before that, is the third woman to take over running a New Zealand bank this year.

Bank of New Zealand boss Angela Mentis took on the top job in January while ASB chief executive Vittoria Shortt moved into the role in February.

TSB chair John Kelly said Cooper brought the right range of skills and experience needed as the bank implemented its growth strategy and continued to evolve to meet the changing banking landscape.

"Our priority in appointing TSB's new CEO was demonstrable leadership capability to contribute to our vision, drive strategy execution through technology and customer-led innovation, and build relationships with all of the bank's stakeholders.

"The appointment of Ms Cooper to the role ticks all of those boxes. It also enables us to benefit from a fresh perspective at a time when the spotlight is on banks to put customer interests first," Kelly said.

Banks have come under the eye of regulators in New Zealand this year in the wake of Australia's Royal Commission into misconduct in the financial services sector and are also facing pressure from technology changes.