Retiring minister Simon Power is heading to work for the Westpac bank after he steps down from politics at the end of this term.
Westpac on Tuesday announced that Mr Power, 41, would take up the role of head of Private Bank - which looks after premium personal customers - in January next year.
He has served as a Member of Parliament for Rangitikei the past 12 years and as a Cabinet minister for the past three, including as Minister of Commerce and Associate Minister of Finance.
Mr Power - tipped by many as a future leader of the National Party - surprised many when he announced he would not be seeking re-election, but had so far kept his career choice to himself.
"This is the beginning of a new and exciting chapter in my career. One of my objectives after leaving Parliament is to contribute to the growth of New Zealand in the private sector and I feel that with my experience in working with and implementing change I can do that," he said.
NZN