ANZ National Bank appoints new CEO

ANZ National Bank, New Zealand's largest lender, named David Hisco as chief executive, replacing Jenny Fagg, who stood down to concentrate on battling cancer.

Hisco was ANZ Group managing director commercial for Australia, based in Melbourne, and has had a 30-year career with the bank, including managing director of its UDC finance unit in New Zealand from 1998 and 2000, the bank said in a statement today.

His appointment is subject to regulatory approval.

"David is also a strong replacement for Jenny Fagg," said chairman Dryden Spring.

"We understand her treatment is progressing well and I know she's been buoyed by the support she's received from her friends and colleagues here in New Zealand."