Reserve Bank’s Daniel Mminele tipped to take over as Absa CEO
The country’s third-largest lender is seeking a permanent replacement for Maria Ramos
Absa Group is considering SA Reserve Bank deputy governor Daniel Mminele as a potential replacement for departing CEO Maria Ramos, according to people familiar with the matter. The country’s third-largest lender is seeking a permanent replacement for Ramos, who is stepping down later this month after a decade in charge. Her successor will be responsible for leading Johannesburg-based Absa as it embarks on a new era after former parent Barclays sold down a majority stake. Mminele is one of a select number of shortlisted candidates for the job, said the people, who asked not to be named as the deliberations are private. The 53-year-old has been a deputy governor of the Bank for almost a decade and is responsible for financial markets and international-economic relations. He has worked at the institution in various positions since 1999. His latest term expires in June, and he would be subject to six months of so-called gardening leave.
“I will not comment on market speculation,” ...