Future Fund executive chairman David Gonski is being head-hunted by the Australia and New Zealand Banking Group Lts to be its next chairman.
Mr Gonski, who previously served on the ANZ board between 2001 and 2007, has been approached by the $90 billion bank, but commitments at the $89 billion Future Fund may mean an appointment could take months, The Australian Financial Review reports.
Current ANZ chairman, John Morschel, is seeking a person with experience in Asia and Mr Gonski has experience both as a board member of Singapore Telecommunications and director of Singapore Airlines, as well as with the Future Fund, the paper says.
The AFR reports Mr Morschel wants someone to take the helm of the ANZ board before his term expires at the bank's 2015 annual meeting.
However, Mr Gonski's commitments with current positions on the boards of Coca-Cola Amatil (CCL) and SingTel (SGT) may mean a delay of several months.
A replacement for Mr Gonski on the Future Fund could be former federal treasurer Peter Costello, who founded the fund in 2006.