New era for Absa as Maria Ramos steps down
The bank now plans to claw back the ground it lost under former parent Barclays
Maria Ramos’s decision to step down as Absa CEO, after exactly a decade in the job, marks the end of a tumultuous era for SA’s third-most valuable bank, which now plans to claw back the ground it lost under former parent Barclays plc. Since Ramos took the helm in March 2009, Absa has been the worst-performing stock within the JSE’s banking index. While its market capitalisation has tripled to R157.9bn, sector giant FirstRand’s has grown six-fold, while Standard Bank, Nedbank, RMH and newcomer Capitec have all fared better than Absa. If you are already a subscriber, please click on the following link to go to the full article: Absa shifts into new era as Ramos retires If you would like to subscribe to BusinessLIVE to read the full story, please click here.