Standard Bank appoints new Chief Executive for its South African operations
Standard Bank announced the appointment of Lungisa Fuzile as Chief Executive of Standard Bank South Africa on 14 December 2017.
Mr Fuzile previously held the post of Director General at National Treasury. Mr Tshabalala said the appointment of Mr Fuzile followed his own appointment earlier in 2017 as the sole Chief Executive of Standard Bank Group.
He said the appointment removed any conflicts of interest which might occur in the execution of Group versus SBSA accountabilities.
Mr Tshabalala said Mr Fuzile was appointed following a rigorous selection process. He has an impressive pedigree in public service, including a stellar 20-year stint at the South African Treasury, six years of which were in the position of Director General.
Mr Tshabalala said the appointment brought the South African business in line with the overall architecture of our businesses across the continent, saying that SBSA should enjoy the same level of independent oversight by the Group Chief Executive as all other business entities and geographies.
Describing South Africa as an important geography for Standard Bank, Mr Tshabalala said Mr Fuzile would play a critical role in maintaining Standard Bank’s legitimacy in its home market, as well as influencing the political economy and broad industry leadership bodies in the country.
Mr Fuzile would also play a key role in interfacing and maintaining relationships with key local regulatory bodies.