KiwiBank is reported to have named Paul Brock as the Company's new CEO. Brock is a member of the original team that established Kiwibank in 2002.

Brock has been named as a replacement for Sam Knowles.

Brock has most recently held the position of General Manager, Savings and Transactions, in the Company. Besides, he has held a slew of top positions in the firm, including the post of General Manager of Marketing.

The Company Chairman, Jim Bolger, said: "Paul has played a key part in Kiwibank's success since its creation and has the skill and leadership which will help the bank go from strength to strength and help continue to change the shape of banking in New Zealand".

Bolger had been named for the prestigious post following his selection from an array of highly experienced and qualified international applicants.

Brock has expressed his sheer happiness over his new post and was already anticipating the development.

In addition, he pledged to devote his hard work towards keeping the bank's reputation in New Zealand high, insisting that the bank needs to show a lot of courage and hard work to sustain amidst the tough economic scenario.