ANZ (ASX:ANZ) New Zealand CEO David Hisco will leave the company after an internal review raised concerns about certain expenses.
ANZ says While Mr Hisco accepts that the characterisation of the expenses falls short of the standards required.
Mr Hisco will receive his contracted and statutory entitlements to notice and untaken leave, with all unvested equity to forfeit.
Antonia Watson will replace him as CEO of ANZ New Zealand on an interim basis.
Shares in ANZ (ASX:ANZ) closed 0.74 per cent lower at $28.22 on Friday.