Pressure is mounting on ANZ's chairman Sir John Key after it was revealed its long-serving chief executive was embroiled in an expenses scandal.
David Hisco has left one of New Zealand's most powerful banking positions after characterising personal expenses as business ones for nearly the entire nine years he led the company.
The expenses in question amount to tens-of-thousands of dollars spent on chauffeur-driven cars and wine storage.
Speaking to media on Monday, Sir John refused to say whether David Hisco resigned or whether he was sacked.
The Australian Financial Review's senior financial services writer James Frost talks to Corin Dann.