Daniel Mminele forced to wing it despite Absa’s careful planning
CEO’s experiences have equipped him to handle a challenge for bankers unlike any other in the modern era
In one of the more fascinating appointments in the country’s banking industry in recent years, former Reserve Bank deputy governor Daniel Mminele was appointed to lead Absa into the brave new world after its decade-long relationship with Barclays Plc.
Mminele inherited a revitalised organisation in January that was close to untangling itself completely from its former parent on time and on budget. All expectations were, including from its board, that Absa’s new leader would focus on driving the organisation onto the front foot and regaining the ground it had lost during the Barclays era.