Absa Group announces changes to its executive committee

Johannesburg - As part of a strategic plan to drive growth and reinforce its position in the market, Absa Group Limited (AGL) has today announced changes to the group’s Executive Committee, as outlined below.

The banking Group said these changes are aimed at accelerating the execution of the Group’s strategy to create superior commercial performance and enhance market competitiveness, while also in line with its transformation, diversity and inclusion agenda.

Group Financial Director

Deon Raju (currently Group Chief Risk Officer and former Group Treasurer) will be appointed the new Group Financial Director with immediate effect. Deon will also join the Absa Group Limited and Absa Bank Limited Boards as an executive director. He is a chartered accountant (CA)SA and Chartered Financial Analyst (CFA) and brings with him over 20 years of experience and expertise from both the finance and risk functions at Absa.

Absa said it extends its gratitude to Chris Snyman, who played a key transitional role as Interim Finance Director over the last few months. 

Interim Group Chief Risk Officer

Rajal Vaidya (currently Chief Risk Officer at Absa Corporate and Investment Banking) will be appointed as Interim Group Chief Risk Officer.

Everyday Banking Business Unit

Christine Wu will replace Cowyk Fox as Chief Executive: Everyday Banking, also with immediate effect. Christine joined the bank in 2019 as an Executive at Absa Retail and Business Banking. In 2022, she transitioned to Everyday Banking as a Managing Executive: Consumer Product, where she has been responsible for the consumer banking segment. She had end-to-end accountability for core product performance and the transformation of Absa into a digital and data first business.

Absa said it would like to thank Cowyk Fox for his immense contribution to the Group. After many years of dedicated service as an integral leader in our business, he has decided to explore new horizons outside the organisation.

“We congratulate our colleagues on their appointments and welcome the new Exco members. It is pleasing to note that the appointments announced today are internal colleagues who have proven track records of delivering results in their respective fields and will contribute further to driving growth and empowering Africa’s tomorrow,” says Absa Group CEO, Arrie Rautenbach.