ANZ Bank New Zealand CEO David Hisco has been elected chair of the New Zealand Bankers’ Association (NZBA) for 2016/17. Westpac New Zealand CEO David McLean was also elected deputy chair.
Mr Hisco takes over the position from Bank of New Zealand CEO Anthony Healy, who was chair during the 2015/16 financial year.
NZBA’s acting chief executive Antony Buick-Constable said, “The NZBA provides a forum for member banks to work together on non-competitive industry issues, which include helping to maintain the balance between workable regulation and economic growth.”
He said New Zealand had one of the soundest financial systems in the world, which was critical in the current volatile international environment.
“New Zealand’s banks are well capitalised and regulated. That’s vital for the functioning of the New Zealand economy – banks play an important role in helping people to buy homes, start new businesses, grow companies, employ people, and plan for retirement,” Mr BuickConstable added.
Established in 1891 the NZBA has 15 members, all of which are banks registered under the Reserve Bank of New Zealand Act 1989. Its governing body is its council, comprising the chief executive of each member bank. In addition, the NZBA has seven affiliate memberships with other organisations involved with the banking industry.