Another CEO of a Barclays Africa division has fallen as the bank reorganises its top management. On Friday Bloomberg reported that Jan Moganwa, CEO of the consumer banking division, would leave the bank. Barclays Africa's biggest division is believed to be in a process that could result in the reduction of senior management positions from 27 to 12 in a bid to flatten its management structure. Barclays Africa will change its name to Absa next month. Moganwa's departure comes a week after the company said Craig Bond, CEO of partnerships, joint ventures and strategic alliances, would take early retirement. The restructuring is still at an early stage, but it could involve the merger of business units, which may result in job cuts. Songezo Zibi, Barclays Africa spokesperson, would not comment on job losses. Brian Mugabe, a banking analyst at Momentum Securities, said it was difficult to comment on possible job cuts, including their timing, as Absa would not give that kind of indication ...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.