Alliance and Leicester announces it has successfully ended their search for a new leader with the appointment of Peter McNamara of Lloyds TSB.
He will be the bank's group managing director from June. Since 1996, he has held the title of managing director of personal banking at Lloyds.
John Windeler will remain on the team as executive chairman. His responsibilities will include internet ventures, corporate development and corporate communications.
Windeler had been widely quoted as saying he had no desire to remain once a new leader was found.
No details of McNamara's contract were released.