He is Mark Wilkshire, and he will take up the reins in January.
Wilkshire comes from the Suncorp Group, which markets insurance brands in New Zealand such as Asteron and Vero.
Before that, he spent spent eight years at Kiwibank, helping to manage its product and marketing department.
He earlier worked for ANZ and BNZ.
Sarah Haydon, Chair of The Co-operative Bank board, said Wilkshire was strongly aligned with her company's values and culture.
“His strong experience in retail banking and his values-led approach to leadership make him an exceptional choice to steer The Co-operative Bank through the next phase of its growth.”
On accepting the role, Wilkshire said “The Co-operative Bank is unique in New Zealand, as the only bank to share its profits with its customers.
“I am excited by the opportunity to support and grow the customer base and help ensure a competitive banking market in New Zealand.”
Bevan Miller continues as interim Chief Executive until Wilkshire's arrival.
In the year to March, 31, the bank made a net profit after tax of $15.6 million, up from $6.7 million the year before.
The company attributed that improvement to better income from interest payments, more lending, lower costs and far fewer bad debts.