A new executive structure for banking group Absa was announced on Monday by its group CEO Maria Ramos. The new structure included the appointment of a deputy group CE, Louis von Zeuner, she said in a statement.

Von Zeuner was formerly CE of the group’s retail and commercial banking activities. The deputy group CE would report directly to Ramos and would assume, amongst others, the responsibility for the retail and commercial banking businesses, Absa financial services and group operations.

“The revised group structure enables closer co-operation amongst the various business units and will ensure that we can identify and maximise all opportunities available to our customers as they transact with us,” Ramos, pictured, said.

Absa said in a separate statement that group executive director, Jacques Schindehutte, would resign from the boards of Absa Bank and Absa Group with effect from March 1, 2010. He would leave the employ of Absa on 1 September 1 next year. — Sapa