PHOTO: ANZ chief executive David Hisco. Photo: Photosport
An ANZ shareholder is demanding the bank disclose more information about the sale of an Auckland residential property to its former chief executive and his family.
KiwiSaver provider Simplicity, which owns a minor stake in ANZ, sent a letter to the bank this week asking for a copy of the independent valuation carried out on a home sold to David Hisco’s family in 2017.
“The reason we request the above is due to the highly unusual nature of the sale price given general market conditions at the time, and publicly available valuations that were at a much higher level,” the letter said.
“Given the purchase and sale of the property was made with shareholder funds, it is reasonable for shareholders to understand the basis on which these transactions were made.”
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