ANZ CEO David Hisco succeeds BNZ's Andrew Thorburn as chairman of the New Zealand Bankers' Association

ANZ New Zealand CEO David Hisco has succeeded his BNZ counterpart Andrew Thorburn as chairman of the New Zealand Bankers' Association, which touts itself as the voice of the banking industry, for 2012/13.

Westpac New Zealand CEO Peter Clare, who has just touched down from Australia to replace George Frazis, has been named deputy chairman.

Hisco has been vocal recently in criticising ANZ's big three rivals - ASB, BNZ and Westpac - for writing 95% home loans, saying it's not necessarily the right thing to do for customers and isn't the best use of bank funds at a time when banks are paying more for the money they borrow and on-lend to customers.

In its statement the New Zealand Bankers’ Association (NZBA) quoted Hisco as saying a strong and resilient banking sector was crucial for New Zealand.

“It is a privilege to have the opportunity to represent New Zealand’s banking sector, which is one of the most secure and efficient in the world,” Hisco said.

“The sector has arguably never been more important to New Zealand. In the post-crisis environment, having a strong and resilient banking system is critical for New Zealand’s ongoing economic recovery."

Furthermore Hisco said he looked forward to working with colleagues from across the industry.

Hisco's accession to the chairman's role comes with Kirk Hope, the former Financial Services Federation executive director and an ex-head of regulatory affairs and government relations at Westpac, having recently taken over as the NZBA's CEO.

All the country's major banks are NZBA members.


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