ANZ's New Zealand unit CEO David Hisco to leave after review of personal expenses

Credit: REUTERS/Steven Saphore

Australia and New Zealand Banking Group said on Monday that David Hisco, its New Zealand unit's chief executive officer, would leave the bank after concerns were raised about personal expenses.

Adds chairman comment, details

June 17 (Reuters) - Australia and New Zealand Banking Group ANZ.AX said on Monday that David Hisco, its New Zealand unit's chief executive officer, would leave the bank after concerns were raised about personal expenses.

ANZ said its board expressed concern over certain transactions following an internal review of personal expenses, adding that Hisco did not accept all concerns raised by the board.

Antonia Watson will take over as acting chief executive, replacing Hisco, who has been facing health issues. He has been with ANZ more than 30 years, and CEO of ANZ New Zealand since 2010, according to the company's website.

"We are disappointed David is leaving ANZ under such circumstances after such a long career, however his departure is the right one in these circumstances given the expectations we have of all our people," said ANZ New Zealand Chair John Key.

Reuters was not immediately able to reach Hisco for comment.

Australia's third largest lender added that Hisco would receive his contracted and statutory entitlements.

(Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Peter Cooney)

((NikhilKurian.Nainan@thomsonreuters.com; +91 806 749 1637; Reuters Messaging: nikhilkurian.nainan.thomsonreuters.com@reuters.net; Twitter: @NikhilKurianN))

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