Timing of Hisco replacement to be known by year end

The timing for the replacement of former ANZ New Zealand boss David Hisco will be known by year end. Photo/Sarah Ivey.

ANZ bank says it will announce the timing for its new New Zealand chief executive by the end of the year.

The bank's former boss David Hisco left in June under a cloud of controversy over expenses claimed for chauffeur-driven cars and wine storage.

Hisco had been chief executive for nine years. Head of retail and business banking Antonia Watson has been acting chief executive since then.

The bank yesterday announced to the New Zealand stock exchange that by the end of the year it would know the likely timing for when a new chief executive would be appointed.

The new appointment will be subject to a non-objection process by the Reserve Bank.

"In the meantime, Acting CEO Antonia Watson will continue in that role and Ben Kelleher will continue as Acting Managing Director Retail and Business Banking.

"Ms Watson and Mr Kelleher have received non-objections from the RBNZ to continue in their acting capacities," the bank said.

ANZ also announced that it intends appoint Alison Gerry to its New Zealand board which is chaired by former prime minister Sir John Key.

Gerry already sits on the board of Infratil, Australian insurer Suncorp's New Zealand subsidiaries, Wellington Airport and Sharesies.

She has previously been a director of Spark, NZX, Kiwibank, TVNZ, Queenstown Airport and Pioneer Generation.

Gerry is a graduate of the University of Waikato and also has a Masters of Applied Finance degree from Macquarie University and is a Chartered Fellow of the Institute of Directors and a Co-Founder of On Being Bold.

She will join independent directors Key, Tony Carter, Mark Verbiest and Joan Withers, and ANZ Group chief executive Shayne Elliott and group chief financial officer Michelle Jablko.

ANZ said it hoped Gerry would join the board by the end of the year.

The banks also announced its chief risk officer Bruce Macintyre, who has been in the bank for 35 years, would be retiring by Christmas.

"The board of ANZ NZ currently expects Mr Macintyre's replacement to be recruited before the end of the year."