Absa Group Limited has announced the appointment of Aaron Daniel Mminele as Group Chief Executive, with effect from 15th January 2020. Mminele takes over from René van Wyk, who has been leading the bank on an interim basis since February 2019.
Daniel will focus on long-term growth relying on a March 2018 master plan, aimed at regaining market share in core businesses.
Mminele spent more than 20 years with the South African Reserve Bank rising through the ranks to be a deputy governor. He served in the Monetary Policy Committee and Financial Stability Committee. He was responsible for financial markets and international economic relations.
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Absa Group has a presence in 12 countries in Africa, with approximately 40,000 employees. The group offers products and services across personal and business banking, corporate and investment banking, wealth and investment management, and insurance.
Van Wyk will step down as Chief Executive on 14th January 2020, but remain with the Group as an executive director for handover purposes until 31st January 2020.