Absa reshuffles its executives
Deputy CEO David Hodnett will take a two-month sabbatical and the heads of its four operating arms will report directly to group CEO Maria Ramos
Absa deputy CEO David Hodnett will take a two-month sabbatical due to a management reshuffle at the bank, its JSE-listed holding company Barclays Africa Group said on Monday. Under Absa’s new group structure, the heads of its four operating arms will report directly to group CEO Maria Ramos. "SA banking will cease to be a management or reporting segment," the company said in its statement. Arrie Rautenbach will head Absa’s retail and business banking (RBB); he moves to the role from group chief risk officer. August Van Heerden will succeed Rautenbach as chief risk officer. The CEOs of the other three divisions remain unchanged. Absa’s corporate and investment banking (CIB) will remain under the joint leadership of Temi Ofong and Mike Harvey, but they will now report directly to Ramos instead of Hodnett. "Peter Matlare, currently deputy CE, remains responsible for rest of Africa banking," the company said. Nomkhita Nqweni will remain the head of Absa’s wealth, investment management ...
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