Smith has been with NZF more than two years and her appointment at the time was considered a coup by many in the industy as previously she had run Sovereign's home loan business.
Smith has is joining Commonwealth Bank of Australia in a senior management role based in Brisbane. She leaves NZF in late October.
She follows other Sovereign and ASB staff such as Ralph Norris and Barbara Chapman across the Tasman to CBA.
NZF chairman John Callaghan says Smith has led the company through challenging times and "has executed the changes required to position NZF for a sustainable future."
"NZF rebranded in April 2008; launched NZF SuperKiwi in July 2008 and commenced the IT platform replacement in the same year. Adrienne has also had the responsibility for a number of compliance / regulatory projects including the current piece of work to obtain a credit rating by March 2010," he says.
Mark Thornton, a NZF founder and director will, in the meantime, take over a large part of Smith’s responsibilities.
