John Symond, the founder of Aussie Home Loans, is to take over as chairman of the Sydney Opera House Trust.
The NSW minister for tourism, major events and the arts, George Souris, made the announcement in a press release on Friday morning.
The current chairman, Kim Williams, will step down on October 4 after nine years in the role.
Mr Symond, who sold a majority stake in Aussie to Commonwealth Bank last year for $300 million, is holidaying in southern Europe, according to a report in Friday's Australian Financial Review.
Mr Symond joined the trust in January 2012. His term as chairman will run until December 31, 2014.
Mr Souris said Mr Williams had decided to end his term earlier than the scheduled date of December 31, 2013.
This was to allow his successor to represent the future of the Opera House as it celebrates its 40th anniversary and embarks on what the statement called "a decade of renewal to secure Jorn Utzon's masterpiece for coming generations".
"Kim Williams has made an invaluable contribution in overseeing and guiding the management of the Sydney Opera House since joining the trust as chairman on January 1, 2005," Mr Souris said.
He said Mr Williams had been "a superb ambassador for the Opera House" who had "a tremendous passion for the performing arts and a deep understanding of every aspect of the Opera House".
Mr Souris said Mr William's nine years at the trust's helm had seen major improvements to the Opera House, a doubling in visitor numbers, and the number of event patrons rise from 1.1 million to 1.4 million annually.