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ABSA STRENGTHENS EXECUTIVE TEAM

patriot by patriot
July 7, 2022
in Business
242 10
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ABSA STRENGTHENS EXECUTIVE TEAM

Arrie Rautenbach, Absa Group Chief Executive Officer

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As part of Absa Group’s journey to enhancing market competitiveness and with due consideration to its transformation imperative, the Group has announced a strengthened Group Executive Committee (Exco) and a refined operating model, effective 1 July 2022.

Absa embarked on a new strategy in 2018. The strategy, which has been refreshed, set Absa on a growth path and enabled it to build momentum. The Group is now positioning to intensify its efforts to compete.

“We are reconfiguring Group Exco to create an organisation that is closer to customers, shows superior commercial performance and is fuelled by functional excellence,” said Arrie Rautenbach, Absa Group Chief Executive Officer. “The inclusion of best-in-class commercial and revenue-generating skills from key customer segments will complement Absa Group’s existing high-calibre Exco team and give credence to Absa’s re-anchored strategy while allowing us to accelerate strategy execution,” he said.

Group Exco changes

Given the elevated importance of both strategy and sustainability, and the integration of the two in the current environment, Punki Modise has been appointed Group Chief Strategy and Sustainability Officer, part of the Exco team.

Key leaders in the former Retail and Business Banking (RBB) business unit have been appointed to Exco roles. They are Faisal Mkhize, Cowyk Fox and Geoffrey Lee, responsible for Relationship Banking, Everyday Banking and the newly constituted Product SolutionsCluster, respectively.

In addition to his current responsibilities, Saviour Chibiya is now responsible for RBB ARO as Chief Executive: ARO and assumes full accountability for the RBB ARO business. ARO refers to Absa Regional Operations. Thabo Mashaba was recently appointed as Interim Group Chief People Officer, also an Exco role.

The changes see Absa Group move from two commercial business units – RBB and Corporate and Investment Banking (CIB) – to five business units. These are: Everyday Banking, Relationship Banking, Product Solutions, CIB Pan-Africa and RBB ARO. CIB remains unchanged and will continue to be led by Charles Russon, who maintains accountability for CIB Pan-Africa.

“There are clear commercial benefits that will flow from the operating model changes and a more diverse leadership team, with further opportunities to strengthen our transformation profile,” said Rautenbach.

Progress is underway with regards to permanent appointments in the roles of Group Chief People Officer, Group Chief Information Technology Officer and Group Chief Brand and Marketing Officer, which will be announced in due course. The additions to the Exco structure complement Absa Group’s existing high-calibre executive team. The new structure and operating model are intended to support Absa’s strategy, and increase the scope of Absa’s senior leadership, ultimately allowing the Group to harness greater talent and transformation from the internal pipeline.

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  • MY PRESIDENT IS CLUELESSAugust 11, 2022
    BY DONALD MOLOSI Allow me to state the obvious since you have a casual relationship with the truth. We are halfway through your term and it seems that you are already in campaign mode. For someone who has barely […]
  • ‘Butterfly’ acquital reversedAugust 11, 2022
    THABO BAGWASI editors@thepatriot.co.bw A full bench of the Court of Appeal (CoA) on Friday morning unanimously thwacked and set-aside a series of orders by Justice Dr Zein Kebonang, made in favour of Welhemina Maswabi, a former spy in the […]
  • Mosadi Tota powers women in businessAugust 11, 2022
    AMANDA DAVID editors@thepatriot.co.bwSupport authors and subscribe to contentThis is premium stuff. Subscribe to read the entire article.Login if you have purchased Subscribe Gain access to all our Premium contents. More than 100+ articles. Subscribe Now Buy Article Unlock this […]
  • UB delivers Botswana’s biodiesel dreamAugust 10, 2022
    KABO RAMASIA editors@thepatriot.co.bw Botswana’s quest for biofuel production by leveraging on animal fats and plant material to deliver the B20 biodiesel is on course to fruition, The Patriot on Sunday has learnt. Giving welcome remarks at the official launch […]
  • Gold, Silver for TebogoAugust 10, 2022
    STAFF WRITER editors@thepatriot.co.bw All eyes were on two sprinters, Tebogo Letsile (200m) and Collen Kebinatshipi (400m) finals in the wee hours of Friday as Botswana hoped to add to her medal haul at the World Athletics Junior Championships in […]
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