NAIROBI, Kenya March 26-Absa Group has announced the appointment of Arrie Rautenbach as Chief Executive Officer (CEO), effective immediately.
The appointment follows a thorough recruitment and selection process completed by the Board.
Arrie, who is currently Chief Executive of the Group’s retail and business banking (RBB) unit, is the first internally appointed CEO since 2006.
Interim CEO Jason Quinn will resume his position as Group Financial Director with immediate effect.
“I am humbled and honoured to lead Absa during challenging conditions locally and internationally. I am excited at the prospect of working with a talented and diverse team, leading an outstanding business that is positioned to seize the many opportunities that lie ahead,” said Arrie.
He has more than 25 years’ banking experience, which includes serving as the Group’s Chief Risk Officer, simultaneously providing executive leadership for the Group Separation Programme and Group Strategy Office.
Other previous roles Arrie held at Absa include Chief Executive of Retail Banking, Managing Executive of Absa Card Division and Managing Executive of Distribution. He began his career with Absa Group at Bankfin in the late 1990s.
“On behalf of the Board, I am delighted to announce the appointment of Arrie as our Group CEO. I am confident that his leadership will provide the continuity and stability necessary to consolidate our purpose and strategy,” said Wendy Lucas-Bull, outgoing Absa Group Chairman.
Sello Moloko, Absa Group Chairman Designate, said: “Arrie’s appointment will anchor our performance and growth, as we consolidate our position as a leading financial services provider on the continent. Arrie is aligned with the Board on our organisational imperatives, including talent management and transformation. The Board looks forward to working with Arrie and the executive to ensure a Pan-African financial services Group that creates sustainable value for all its stakeholders.”
