More ructions at Absa as Sipho Pityana takes on banking regulator
Absa’s lead independent director alleges Maria Ramos lobbied against his nomination as chair
25 October 2021 - 19:44
Leading business executive Sipho Pityana has taken the extraordinary step of taking the banking regulator to court, claiming that it acted unlawfully in effectively blocking his appointment as chair of Absa.
In papers filed on Monday, Pityana asks the high court to declare that the Prudential Authority (PA) unlawfully conducted an “informal process” with the boards of Absa Bank and Absa Holdings in connection with his nomination...
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