Absa has appointed long-serving executive Arrie Rautenbach as its new CEO, replacing Daniel Mminele, who resigned last year after clashing with the banking group’s board over strategy.
Rautenbach, whose appointment is effective immediately, had been Absa’s chief executive for retail and business banking. He has been with Absa for the past 25 years and in that time has held various senior roles, including chief risk officer and managing executive for both Absa Card and the branch network.
Absa said Rautenbach holds bachelor’s and master’s degrees in business administration, both from the University of North West in Potchefstroom, and also completed the advanced management programme at Insead.
Interim CEO Jason Quinn will resume his role as financial director of Absa Group and Absa Bank, effective immediately, and remain an executive director on the boards.
Interim financial director Punki Modise will take the position of interim chief executive of RBB and will remain on the group executive committee. – © 2022 NewsCentral Media