Cape Town – Standard Bank Group Ltd. has appointed Kenny Fihla as deputy chief executive officer (CEO) and head of its South Africa business, the bank’s largest geographic unit.
Luvuyo Masinda will take over as CEO of corporate and investment banking from September 1, the Johannesburg-based bank said in a statement on Friday, according to BNN Bloomberg.
Lungisa Fuzile will step down as head of the South Africa unit and will now serve as group head of public policy and regulation, as well as regional CEO for the southern and central areas of the Africa portfolio.
Standard Bank reshuffled senior executive roles, appointing Kenny Fihla as its deputy chief executive officer and leader of the South Africa business https://t.co/vLBdCDhVdW
— Bloomberg Africa (@BloombergAfrica) August 30, 2024
“Fihla is a most experienced and successful executive – a leader’s leader of immense effectiveness, having served the Group in various senior executive roles over the past 18 years. I look forward to working even more closely in partnership with Kenny as we develop and execute the Group’s strategy,” Business Tech quoted Chief Executive Officer Sim Tshabalala as saying.
Amid high interest rates and weak consumer and business confidence in South Africa, Standard Bank is focusing on expanding its footprint in East Africa for medium-term growth.
The bank said that the recent executive appointments will help the team focus on their specific mandates, enhance their expertise, and strengthen their networks, while ensuring the bank has a robust leadership team to drive future success. leadership structure.
Follow African Insider on Facebook, Twitter and Instagram
Picture: X/@SBGroup
For more African news, visit Africaninsider.com
Compiled by Betha Madhomu
