Wayne Byres, the current Secretary General to the Basel Committee on Banking Supervision (BCBS), is to take up the role of chair of the Australian Prudential Regulation Authority (APRA).
He will succeed current APRA chairman John Laker, who has been in the job since 2003.
Treasurer Wayne Swan made the announcement in Canberra as part of a host of regulatory and central bank appointments, including the reappointment of Glenn Stevens as governor of the Reserve Bank.
According to the treasurer, Mr Byres' appointment was strongly recommended by Mr Laker, Reserve Bank of Australia governor Glenn Stevens and Treasury secretary Martin Parkinson.
Mr Laker has agreed to serve in his role until June 2014 when Mr Byres' term as secretary general of the BCBS ends and he can take over.
