Outgoing Absa chair Wendy Lucas-Bull has opened up on the fallout with former board member Sipho Pityana, now locked in a legal dispute with the bank and the Prudential Authority (PA) after not being named as her successor.

Pityana was sacked from Absa’s board in November 2021 after he unexpectedly announced the month before that he was suing the PA, the regulator of financial services firms, for allegedly blocking him from being considered for the chair role that Lucas-Bull is vacating at the end of March. Absa said that by suing the regulator Pityana put his interests before those of the bank and was derelict in his duties...