Top-level exit sparks unease
Absa: Hadebe's strange exit stokes fears
Phakamani Hadebe’s mysterious resignation has stoked fears inside banking giant Barclays Africa
The murky circumstances surrounding the departure of Phakamani Hadebe, Barclays Africa’s SA CEO for corporate & investment banking, underscores confusion around the future of the pivotal unit at the bank. Last month it emerged that Hadebe had resigned “for personal reasons”. His resignation followed an eight-month delay in filling the CEO position left vacant by Stephen van Coller’s departure — a post Hadebe was considered a shoo-in for. Staff staged a walkout on news of Hadebe being overlooked for the CEO position, and the Association of Black Securities & Investment Professionals labelled the move “distasteful” and a missed opportunity for transformation. Shareholders were also left unsure as to whether there was wider discontent among the bank’s top brass, or deeper problems inside the investment banking arm. Since Hadebe’s departure, Barclays Africa has split the corporate & investment banking CEO position in two, under joint heads Temi Ofong and Mike Harvey. They will report to...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.