Leadership changes at ANZ New Zealand

News Release

For Release: 17 June 2019


Leadership changes at ANZ New Zealand

ANZ today confirmed the appointment of Antonia Watson as Acting CEO of ANZ New
Zealand, following the departure of David Hisco.

Mr Hisco’s departure follows ongoing health issues as well as Board concern about the
characterisation of certain transactions following an internal review of personal expenses.

While Mr Hisco does not accept all of the concerns raised by the Board, he accepts
accountability given his leadership position and agrees the characterisation of the expenses
falls short of the standards required.

ANZ New Zealand Chair Rt Hon Sir John Key said: “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, no matter how
senior or junior.

“We are fortunate to have an experienced executive in Antonia Watson to step in while we
conduct a search for a replacement. Antonia’s extensive banking career has her well placed
to help ANZ manage through this transition,” Sir John said.

Mr Hisco will receive his contracted and statutory entitlements to notice and untaken leave,
with all unvested equity to forfeit.

The Reserve Bank of New Zealand and Australian Prudential Regulation Authority have been
notified of the changes and are being provided all requisite filings.


New Zealand media enquiries:

Stefan Herrick, +64 21 748 492



International media enquiries:

Stephen Ries, +61 409 655 551




ANZ Bank New Zealand Limited
Australia and New Zealand Banking Group Limited ABN 11 005 357 522