By Chris Zappone
ANZ Bank's chief economist Saul Eslake will step down after 14 years on the job.
Head of Australian economics and interest rates Warren Hogan will take over on an interim basis beginning in early August.
The bank did not give any indication of Mr Eslake's future plans, although colleagues said he would be "missed greatly.''
"I am very pleased to have Warren act as chief economist until we make a permanent appointment,'' ANZ CEO Mike Smith said this morning in a statement. "He has extensive experience as an economist particularly in global markets and is supported by an outstanding economics team at ANZ."
"I want to let you know that I have decided to leave ANZ in order to, in the customary phrase, 'pursue other opportunities','' he said. "Those 'other opportunities' will allow me to continue to contribute to public and private dialogue about Australian and international economic issues, albeit from a rather different standpoint from the one I've had at ANZ.
"I want to emphasise what a pleasure and a privilege it has been to have held for nearly 14 years one of the most interesting and rewarding positions available to an economist anywhere in Australia.''
Mr Eslake said he expected to make a statement on his next project in the near future.
Mr Hogan, formally an economist with Credit Suisse First Boston, Westpac and NSW Treasury, will take up the role of acting chief economist early in August.
ANZ, under Mr Smith, is repositioning itself for growth in Asia through acquisitions, resulting in staff reshuffles and acquisitions outside Australia.
, with