Maria Ramos. Picture: FREDDY MAVUNDA
Maria Ramos. Picture: FREDDY MAVUNDA

Absa has completed the process of appointing a group CEO to replace Maria Ramos, it said on Monday.

Ramos announced her retirement from the bank in February. Absa appointed René van Wyk, who has been serving as interim CEO since March.

The new CEO will join a company that is facing fierce competition from old rivals and newly launched digital banks vying for young, tech-savvy banking consumers.

But Absa has mapped out an ambitious growth strategy that includes winning back market share at home and building a stronger business elsewhere on the continent.

mochikot@businesslive.co.za