David Hisco, currently chief executive in New Zealand and global head of retail, will take on new responsibilities as chief executive in New Zealand and as a group executive, to include ANZ’s operations in the Pacific and international retail.

ANZ New Zealand retail and business banking managing director Fred Ohlsson has also been promoted to the role of group executive - Australia division, and will join Elliott’s newly formed Group Executive Committee along with Hisco.

Ohlsson will be replaced by the managing director of wealth and private bank for New Zealand, John Body.

Body’s appointment is subject to no objections from the Reserve Bank of New Zealand.

“ANZ New Zealand continues to be a great breeding ground for international executives,” Hisco said.

“I am very proud of these promotions for Fred and John because much of it is a direct result of the great work everyone in the New Zealand business has been doing since the merger of the ANZ and National Bank brands and technology systems in 2012.

“Under Fred’s leadership market share in retail and business banking has continued to grow. Almost one in two New Zealanders now has some kind of financial relationship with ANZ and we’re number one in mortgages in every major city in the country. Under John’s leadership, the wealth business has grown to be New Zealand’s leading KiwiSaver provider and to be the country’s largest fund manager.”