Wayne Byres is to head the Australian Prudential Regulation Authority from July 2014, replacing John Laker. The treasurer, Wayne Swan, announced Byres' appointment yesterday.Swan also said he will extend Laker's term as chair of APRA until the end of June next year, which is when Byres' contract as secretary general to the Basel Committee on Banking Supervision expires.Byres served as head of APRA's diversified institutions division from 2004 until 2011, when he left to join the Basel Committee. Prior to this he worked in bank supervision at APRA and the Reserve Bank of Australia.