Rust will join the BHA having spent over three years in his current role at a bookmaker.
“Nick has played a significant role in Ladbrokes since he rejoined us in 2011 to help transform our retail offer,” said Ladbrokes CEO Richard Glynn.
“He has created a strong team who have been running the day-to-day business for some time who have a clear view on what needs to be done to keep the retail offer highly competitive.
Rust will work until the end of his notice period in April. Ladbrokes said it has no immediate plans to replace his position in a like-for-like role.