Absa executive leaves to join Standard Chartered

Johannesburg – Standard Chartered has raided Absa for talent, poaching the lender’s deputy chief executive (CE) Bongiwe Gangeni.

Gangeni, who has been with Absa for 14 years, has the dual roles of deputy CE for retail and business banking, and head of relationship banking.

She will be based at Standard Chartered’s Dubai office.

She will start her role as head of consumer, private, and business banking for Africa, the Middle East, and Europe in March.

Sunil Kaushal, regional CEO: Africa and the Middle East, said Gangeni’s understanding of the region would be invaluable as the bank continued to innovate and accelerate its digital transformation.

“Our consumer, private, and business banking arms are among the bank’s most crucial avenues across Africa and the Middle East, and ones that we continue to invest into better service our robust clientele in the region,” Kaushal said.

“Bongiwe’s appointment will be pertinent in our ability to provide further excellence in these areas and strengthen relationships with existing and potential clients. I am confident that Bongiwe’s expertise and knowledge will prove vital to the bank’s growth in the region.”

Absa has been going through winds of change in recent months.

The bank is still without a permanent CEO following the departure of Daniel Mminele in April after a dispute with the board.

The bank will also be under a new chairman next year when Sello Moloko replaces main stay chair Wendy Lucas-Bull.

Absa also suffered a blow in March when its deputy group CEO Peter Matlare succumbed to Covid-19.

At the time of his passing, he was deputy CEO of Absa, with responsibility for operations outside South Africa. Gangeni could not be reached for comment.

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