Standard Bank appoints Lungisa Fuzile as CEO for SA
Fuzile, who has served in the Treasury, will report to the group’s CEO, Sim Tshabalala
Standard Bank has appointed Lungisa Fuzile as CEO for its South African unit. A former director-general within the Treasury, Fuzile will take over from Sim Tshabalala, who has served in the role since 2008. "This appointment follows the recent changes to the group’s executive structure, which resulted in the disbanding of the joint group CEO construct," Standard Bank Group said in a statement. Ben Kruger stepped down as joint CEO of Standard Bank Group in September, leaving Tshabalala as the sole head of Africa’s biggest bank by assets. Kruger and Tshabalala took up their joint roles in 2013‚ following the retirement of Jacko Maree‚ who led the financial services group for more than 13 years. Fuzile, who has spent 20 years in the public service, will report to the group’s CEO, Tshabalala. Fuzile has no banking experience but his various roles at Treasury over the past two decades, including as deputy DG of asset and liability management, will serve him well. He would have played an ...
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