Just as the departures of two black bank CEOs have raised concerns about transformation in the sector, a new study has shown that black people account for an ever higher proportion of the industry's top executives - and that it has a strong pipeline of black professionals rising through the ranks.

For the first time, African middle managers outnumber white middle managers in the banking industry, according to the Banking Association's transformation report 2020, which also found that black people now make up almost 35% of the bank's top executives...

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