ASB names Vittoria Shortt as new chief executive

ASB bank has named Vittoria Shortt as its new chief executive.

Shortt will take over from the bank's current chief executive Barbara Chapman in February, with Chapman's retirement.

Shortt comes from ASB's parent company Commonwealth Bank of Australia, where she was most recently group executive, marketing and strategy.

A New Zealander, Shortt graduated from Waikato University and began her career working in roles at Deloitte and Carter Holt Harvey.

ASB chairman Gavin Walker said the board had conducted an extensive search to identify the person most capable of leading the bank and building on the momentum it had achieved under Chapman's seven years of leadership.

"Vittoria is an accomplished, values-driven leader with an outstanding record of profitably growing businesses, delivering innovative solutions and managing complex business units.

"As a New Zealander, she has a great understanding of ASB's unique heritage and culture and there is no doubt that she will be approaching her new role with the necessary drive and passion to continue building the bank for the next generation."

Shortt said she was excited to be returning home with her family and to be leading ASB as it continued to transform, innovate and accelerate the pace of change across the business.

"I also wish to extend my personal thanks to Barbara for all she has achieved during her tenure.

"Without her leadership, ASB would not be so strongly positioned to address the challenges and opportunities ahead of us."