Absa’s new group chief executive, Steve Booysen, who officially took over the reins of the banking group on Sunday from Nallie Bosman, has announced his new senior management team, reflecting an experienced and diverse generation of bankers.
Responsibility for the group’s key retail banking business units has been largely placed in the hands of Peter Mageza and Louis von Zeuner, with Mageza adding Business Banking and Absa’s African operations to his present Absa Vehicle and Asset Finance role.
Sizwe Tati, as announced earlier this month, has been appointed managing executive of Absa Vehicle and Asset Finance, further strengthening Mageza’s Commercial team.
Louis von Zeuner, a seasoned retail banker who has risen through the ranks of Absa in the same way as Bosman, will now run most of the traditional retail banking divisions of Retail, Mortgages, Flexi-Banking, Small Business and Card.
Booysen has also announced the appointment of a new executive director, Robert Emslie, who will be responsible for Absa Corporate and Merchant Bank and the group’s international banking offices.
Emslie, a chartered accountant, has been with the group since 1987 and held senior positions in the group such as general manager: group finance, managing executive of Absa’s Business Banking Services and, recently, managing executive of Absa Corporate and Merchant Bank.
Said Booysen: “The new executive team with their allocated responsibilities will position Absa for the growth it envisages. I have full confidence in my new team as they have the experience and skills needed to take Absa into the future.”
The new team and their responsibilities will consist of the following group executive directors:
- Laetitia van Dyk’s portfolio remains unchanged and she will be responsible for group marketing, black economic empowerment, group communication and public affairs and group people management.
- Israel Skosana’s portfolio has changed substantially and he has been given seven additional responsibilities. He will, in future, be looking after Private Bank, MLS Bank, Personal Financial Services, AllPay, Absa Real Estate and Asset Management and Devco, Group Procurement and Logistics, Abvest and Bankhaus Wolbern.
- Group credit has been added to Pieter van der Merwe’s portfolio while he will continue to be responsible for group business and technology services, group administration and information management.
- Frans du Toit will remain as group executive director of group finance, group legal services, group economic research, group investor relations, group secretariat, corporate governance and strategic investments.
- Charles Erasmus will still be the custodian of Absa’s insurance divisions such as Absa Brokers, Absa Life, Absa Insurance Company, Fiduciary and Investment Services, Consultants and Actuaries, Health Care Consultants, Absa Investment Management Services and Syndicate Investments.
In respect of succession planning for key strategic positions, Booysen also announced that Jacques Schindehutte, currently group executive: group finance and chief financial officer of the Absa Group, is to succeed Du Toit, who will be retiring early 2005.
Schindehutte, a chartered accountant, has been with the Absa Group since October 1999 prior to which he served with Transnet, among other companies.
Bosman, who laid the foundation for Absa’s sterling performance over the past few years and who handed over the reins at Absa on Sunday, said: “Steve has appointed a very competent team. Absa is in good hands and will continue to grow its business on all levels. I have no doubt that the group will perform admirably in the years to come.”
The new appointment and portfolios are effective from August 1 2004. — I-Net Bridge