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.


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.