A review into executive expenses, ordered by ANZ group CEO Shayne Elliott revealed that the executive expenses of David Hisco, had been misused. It was uncovered that Hisco, Head of ANZ New Zealand division, had used the company's expenses for various personal purchases including a chauffeur-driven car and wine storage. Hisco’s departure comes after 30 years of service at the bank. Sir John Key, ANZ New Zealand Chair, stated that Hisco had the right to use the company’s money for the services, but failed to accurately account for them.
The Financial Times, Jamie Smyth, June 17th 2019