Media reports say it all.
Key said an internal investigation begun three months ago in Australia by group chief executive Shayne Elliot in Australia covering multiple senior executives had revealed “anomalies”, which the ANZ New Zealand board were told about three months ago.
It was announced on Monday that Hisco has left ANZ.
Question? Why was it the Aussie and not the Kiwi who found the rot on this side of the Tasman? Where was John Key?
ANZ chairman and former prime minister John Key says a review of outgoing chief executive David Hisco’s expenses did not include the purchase of his beach house.
The house at 43 Success Court, Omaha, is now owned by Hisco and associates. It was previously owned by John and Bronagh Key.
Four Mainzeal directors, including former prime minister Dame Jenny Shipley, have been found liable for $36 million of damages over the collapse of the once-proud construction company.
Shipley and fellow directors Richard Yan, Peter Gomm and Clive Tilby breached their legal duties as directors, the judge found, but he ruled Yan bore a higher level of responsibility for losses, having “induced” the other directors to breach their duties.
In his only media interview since the $127 million Lombard Finance collapse, company chairman Sir Douglas Graham tells NBR Online of his shame, ordeal and calamitous fall from grace.
On the eve of being sentenced for giving misleading information about the state of Lombard’s loan book just before the company fell, Sir Douglas Graham is on an emotional roller coaster ride.
Ross Meurant is a former Police Officer, Politician and author