Rebranded Absa could see shake-up
Underperforming corporate and investment unit could be targeted
Barclays Africa rebrands itself as Absa this week, focusing attention on a possible shake-up of its corporate and investment banking business - which may have to compete with its former owner. After the restructuring of the bank's retail and business banking division, which included flattening its management structure, attention is turning to how CEO Maria Ramos will revamp the other divisions. Corporate and investment banking is a unit of the Absa portfolio that has under-performed against its big four rivals and one that has gone through some significant leadership changes over the past few years. The most high-profile change was the departure last year of current Eskom CEO, Phakamani Hadebe, as head of the bank's South African corporate and investment banking division.As part of a major leadership overhaul in 2016 that saw former Tiger Brands CEO, Peter Matlare, appointed as Ramos's deputy, the bank's highly regarded investment head Stephen van Coller left the company after being...
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