Standard Bank Executive Announcement
By Sim Tshabalala, CEO of Standard Bank Group
After 18 years of service to the Standard Bank Group, Kenny Fihla, the Group’s Deputy Chief Executive and Chief Executive of SBSA, tendered his resignation last night. He will proceed on garden leave as of today. Whilst this is a heavy blow for us, the Group is blessed with a surfeit of talent and deep succession pools. Further announcements in respect of the leadership of our geographies will be made in due course.
Kenny joined us in 2006 as an executive in the Financial Asset Services business of Corporate & Investment Banking (CIB). He held a variety of roles in CIB including Head of Transactional Products & Services, Head of Client Coverage and Deputy Chief Executive, before being appointed as its Chief Executive in June 2017.
Kenny has made an immense contribution to our Group in his various roles over the course of his career with us and is recognised as an accomplished banker and leader in South Africa, on the continent and globally. Under his guardianship as Chief Executive from 2017 to 2024, CIB doubled its headline earnings to R20.5bn and achieved a compound annual growth rate of 8.6%. We are fortunate to have been able to draw on his unique combination of experience and wisdom in business, government and the labour movement. We wish Kenny continued success on his onward journey.