BSP chief executive Robin Fleming said that Regenvanu was from Uripiv Island, Malekula, and was the first Ni-Vanuatu to lead the business.
"This will bring a deep knowledge of the market and strong stakeholder relationships to the role," Fleming said.
Regenvanu has more than 15 years of banking experience and was most recently head of business banking in Vanuatu.
Before the acquisition of Westpac, he was the senior relationship manager of Westpac Vanuatu and was also senior relationship manager of ANZ Bank Vanuatu before that.
He takes over from Stuart Beren, who was instrumental in supporting and leading the BSP Vanuatu team through the Westpac acquisition and integration into BSP. Regenvanu will be overseeing the operation which includes 95 staff.