Bank of Queensland (BOQ) has appointed Stuart Grimshaw to succeed David Liddy as the lender's next chief executive.
Grimshaw is currently the head of Caledonia Investments, which manages around $2 billion for over 400 investors.
He will join BOQ in November and take over from Liddy, who has been the bank's chief executive since April 2001.
BOQ chairman Neil Summerson said Grimshaw had demonstrated outstanding skills and capabilities in financial services, having held executive positions at Commonwealth Bank of Australia and National Australia Bank.
He has also held a non-executive director role at Suncorp.
"With his diverse background and impressive track record, the board is confident he has the skills and experience we need," Summerson said.
Liddy will finish on 31 August. The bank's chief operating officer, Ram Kangatharan, will take on the role of acting chief executive until Grimshaw starts.
Grimshaw's base annual remuneration will be $1.25 million and he will be provided with short and long-term incentives.
