Digital challenger bank TymeBank will have a new CEO from January. Cheslyn Jacobs will take the reins from Karl Westvig with effect from 1 January 2026.
Westvig, who has been part of the bank’s leadership team since 2023, will continue in an advisory role after he steps down.
“Jacobs, a TymeBank founding team member, brings a wealth of institutional knowledge and leadership experience, having played an integral role in building the business,” TymeBank said in a statement on Monday.
“His appointment marks the beginning of the bank’s next exciting chapter, which will be defined by an accelerated focus on innovation, customer experience and sustainable growth,” it added.
“Cheslyn’s deep understanding of our customers, strategy and people uniquely positions him to lead TymeBank into its next era,” said Thabani Jali, chairman of TymeBank Holdings, in the statement. “It’s time to compete even harder for market share as we mature as a business.”
Jacobs has a BCom in industrial psychology from the University of the Western Cape and a postgraduate diploma in business management from the Gordon Institute of Business Science. He previously worked at Standard Bank and Deloitte.
Transition
Jacobs joined Tyme in 2012 as sales and distribution manager, later becoming national operations manager at Tyme Infield. He was appointed head of sales and services in 2019, the year TymeBank launched, and was promoted to chief commercial officer in 2022, accountable for driving revenue generation and business growth.
Read: TymeBank is getting a new name
TymeBank, which was launched six years ago, has established itself as one of South Africa’s top digital banks, growing its customer base to more than 11 million.
From 1 January, when Jacobs officially becomes CEO, he and Westvig will work closely together for three months to ensure a “seamless transition while maintaining momentum in our growth trajectory”.
“Karl was pivotal in integrating the Retail Capital business into the Tyme ecosystem,” Jali said. “His leadership has been integral to building a strong foundation for TymeBank’s future success…”. – © 2025 NewsCentral Media
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