ANZ claims that security threat led her to hide the address of Hisco mansion



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The address of the $ 7.5 million Auckland mansion bought by ANZ for now chief executive David Hisco was kept off the public record because he feared for his safety.

The Companies Act requires all directors to list their home address in the Public Companies Registry, which is designed to promote business transparency.

But the entry of the ANZ Bank Business Register in New Zealand only lists Hisco's home address as: "Withheld by Registrar, Auckland, 1010, New Zealand."

This can only happen in exceptional circumstances, and the ANZ spokesman said: "Mr. Hisco's home address was not on the Corporate Office website because of threats to his and his family's security."

CONSULT MORE INFORMATION:
* The fall of David Hisco from ANZ
* ANZ bought $ 7.5 million property in Auckland for David Hisco
* Former ANZ chief David Hisco has accumulated nearly $ 450,000 a year in expenses
* ANZ completed the investigation into Hisco's expenses before employees received a medical license
* Sir John Key explains the cost scandal that cost $ 6.4 million to ANZ.
* Executive Director of ANZ leaving the analysis of personal expenses

The luxurious six-bedroom house with three tennis courts and heated swimming pool on St Heliers Bay Road in Auckland was purchased by ANZ's subsidiary Arawata Assets Limited in early 2011 for $ 7.5 million but sold to Hisco's wife , Deb Walsh in July 2017. only $ 6.9 million.

269 ​​St Heliers Bay Road is protected by tall fences.

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269 ​​St Heliers Bay Road is protected by tall fences.

The QV valuation service placed the capital value of the property in 2017 (including an estimated $ 7.2 million for the 2454 sqm) at $ 10.75 million.

The bank said the home was sold to his wife based on "market-made" market valuations.

He also said that a "housing allowance that David received as part of his expatriate arrangements – which was revealed annually – was offset by the market rent that David was required to pay by the ANZ for the house."

Hisco, who led ANZ to make a profit of $ 1.99 billion, left the bank after an investigation into his spending, that ANZ NZ chairman Sir John Key has revealed to have spent money on personal storage of wine and cars driven by consumers.

David Hisco and his wife Deborah Walsh, with Grand Designs host Kevin McCloud.

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David Hisco and his wife Deborah Walsh, with Grand Designs host Kevin McCloud.

Key said that Hisco maintained that he had clearance for expenses.

When Key went to the press on Monday to announce the reason for Hisco's departure, the house on St. Heliers Bay Road was not mentioned.

The removal of a director's address was rare, said a call center clerk at the Business Office, and this could only be done through a request to the registrar.

"Domestic violence or" under conviction "are the only two ways to get your address deleted," the call center operator said after speaking with her manager.

However, she thought that threatening a person's life could be another reason, but said, "You would need to seek legal advice about this."

David Hisco's wife, Deborah Walsh, paid $ 6.9 million for the luxury St. Heliers property in 2017, less than the $ 7.5 million paid by ANZ in 2011.

DAVID WHITE / STUFF

David Hisco's wife, Deborah Walsh, paid $ 6.9 million for the luxury St. Heliers property in 2017, less than the $ 7.5 million paid by ANZ in 2011.

The Board of Directors has struggled to allow directors to maintain their private residential addresses, arguing that a service address is all that is needed, especially for directors of sensitive business sectors.

In a consultation document proposing to directors to keep their home addresses secret, the Ministry of Business, Innovation and Employment (MBIE) said that the Companies Act 1993 required that each company's registration included the "full name and home address of each director "and" the Companies Act requires that the record, including all documents, be publicly accessible. "

There are penalties or fines of up to $ 200,000 available to provide false information to the Firm and even arrest.

269 ​​St Heliers Bay Drive, as seen in Googlemaps, has palatial bases. Your three-car garage is as big as some people's homes.

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269 ​​St Heliers Bay Drive, as seen in Googlemaps, has palatial bases. Your three-car garage is as big as some people's homes.

Last year, British American Tobacco violated the Companies Act by choosing to suppress the residential addresses of its directors, arguing that it did so to protect its security.

Company spokeswoman Janice Thein said: "We made that choice for the safety of all our advisors," but then the tobacco company listed the home addresses of the directors on the registrar.

A company owned by ANZ NZ bought this home from St. Heliers for former chief executive David Hisco.

DAVID WHITE / STUFF

A company owned by ANZ NZ bought this home from St. Heliers for former chief executive David Hisco.

The home of St. Heliers Bay Road was bought by the bank by former Hanover CFO Greg Muir.

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