Dunedin-born Philip Chronican has been made chairman of the BNZ's parent, National Australia Bank - the company that bore the worst of the Australian banking inquiry.

He replaces Ken Henry who, along with chief executive Andrew Thorborn, resigned after the inquiry.

Chronican, who was already a NAB director and who was acting chief executive after Thorburn's departure, was a director of BNZ.

He has more than 35 years of experience in banking and finance in Australia and New Zealand.

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This included responsibility for Australia and New Zealand Banking Group Limited's (ANZ) Australia division, with specific responsibility for ANZ's retail and commercial businesses.

Before ANZ, he had a long career at Westpac in executive roles including group executive Westpac Institutional Bank and chief financial officer.

Chronican was born in Dunedin and has a BCom (Hons) degree in economics from the University of Otago.

In the '70s, he spent three and a-half years working as a midnight-to-dawn disc jockey at Dunedin's 4XO radio station and he became president of the Otago University Students' Association midway through 1978, according to Otago Daily Times files.