This archive report was first published on 7 January 2020.
On January 15, 2020, Absa Group Limited announced the appointment of Aaron Daniel Mminele as its new Group Chief Executive, succeeding René van Wyk, who has been leading the bank on an interim basis since February 2019.
Published on January 7, 2020, the announcement comes as the bank looks to regain market share in its core businesses, relying on a master plan developed in March 2018.
Mminele brings over 20 years of experience to the role, having risen through the ranks at the South African Reserve Bank, where he served as a deputy governor and was responsible for financial markets and international economic relations.
With a presence in 12 countries across Africa and approximately 40,000 employees, Absa Group offers a range of products and services across personal and business banking, corporate and investment banking, wealth and investment management, and insurance.
Van Wyk will step down as Chief Executive on January 14, 2020, but will remain with the Group as an executive director for handover purposes until January 31, 2020.
