Former FX dealer to lead NZ opposition party

WELLINGTON, Nov 27 (Reuters) A millionaire former foreign exchange dealer with only four years political experience was elected to lead New Zealand's main opposition National Party today.

John Key, 45, was voted in unopposed after a weekend of behind-the-scenes jockeying that saw his main rival, Bill English, settle for the deputy's spot.

Key is a political novice, having entered parliament in 2002, after a career in investment banking, including several years as the head of global foreign exchange operations for Merrill Lynch.

He was brought up in the South Island city of Christchurch in a state-owned house by his widowed Austrian immigrant mother.

However, Key has so far largely confined himself to issues within the finance area, such as promoting tax cuts, and has not been tested on broader political issues.

He said he would look to improve the National Party's links with other parties, who might support a future National-led government.

His stage-managed succession followed the surprise resignation last Thursday of Don Brash after three years as leader because of what he called continuing damaging speculation about his future.

Key said the party's new leadership would reinvigorate the centre-right party and was capable of taking government in the next election.

''The leadership team of Bill English and myself, ably assisted by my caucus colleagues, in my opinion represents the future of our country,'' he told reporters.

English, 45, is a former party leader ousted by Brash in 2003, who led the party to its worst defeat in more than 30 years in the 2003 election.

Brash said in a radio interview that a Key-English team would be ''a very good outcome''.

The accident-prone Brash, 66, led National to within a few thousand votes of toppling the centre-left Labour-led government of Helen Clark last year.

The next general election must be held before late-2008.

Recent opinion polls have seen National with a strong lead over Labour, which has suffered from being embroiled in controversies involving election spending and the behaviour of several ministers.

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