The Bank of Queensland has appointed former Citigroup managing director Roger Davis as its chairman.

The appointment of 59-year-old Mr Davis follows the retirement of BoQ chairman Neil Summerson who will remain on the board until 30 July 2013.

“Last year I said I would retire when the bank was delivering on its new strategy,” Mr Summerson said on Tuesday.

“I am confident we have reached that point and the time is right for new board leadership.”

Mr Davis was appointed to the board in August 2008.

He has 32 years’ experience in banking in Australia, the United States and Japan and is currently a consulting director at Rothschild Australia.

He was previously a managing director at Citigroup where he worked for over 20 years and more recently was a group managing director at ANZ Bank.

He is a director of Chartis Australia, Argo Investments, Ardent Leisure and Aristocrat Leisure.