Former Deloitte Africa CEO Lwazi Bam has been appointed to the board of banking giant Standard Bank.
The appointment was announced to shareholders on Tuesday morning, exactly a year after Bam resigned from Deloitte. Bam, who joined Deloitte in 1994, was appointed CEO of Deloitte Southern Africa on June 1 2012 and CEO of Deloitte Africa on June 1 2013. He was replaced by Ruwayda Redfearn who became Deloitte’s first female CEO.
Standard Bank, the biggest bank by assets on the continent, said Bam appointment as an independent non-executive director is effective immediately.
In a note to shareholders, the lender said Bam’s qualifications and experience make him an ideal candidate to serve on its board.
“Mr Bam previously served as president of the Association for the Advancement of Black Accountants in Southern Africa. He is former chairman of the South African Institute of Chartered Accountants, as well as former chairman of the African Children’s Feeding Scheme,” reads the note.
“Standard Bank welcomes Lwazi to the boards and looks forward to his contribution.”
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