Standard Bank Group makes senior executive appointments

Johannesburg - Standard Bank Group (SBG) has announced new executive appointments to simplify and strengthen its management structures, improve its competitiveness in the short to medium term, and to continue its strong growth momentum. These appointments are effective from 1 September 2024.  

These appointments, the Group says, will enable its executive team to focus more precisely on its mandates and to continue to develop its expertise and its networks. These changes will also assist in the ongoing process of ensuring that SBG has the number and depth of executives it needs to maintain and extend its success into the future.

Further, the Group explained that that these changes continue the process of allocating senior expertise to the areas of highest potential growth and, therefore, increasing capital allocation.

Having received the approval of its Board, and that of the Prudential Authority (PA), and having completed all the relevant governance requirements, Kenny Fihla is appointed as Deputy Chief Executive of the Group and Chief Executive of Standard Bank of South Africa Limited (SBSA).  As Deputy Chief Executive of the Group, Kenny will assume responsibility for both SBSA and the Group's Africa Regions and Offshore businesses, while also continuing to report to the Group's Chief Executive, Sim Tshabalala.

Also with the support of the board and the approval of the PA, and having completed the requisite governance processes, Luvuyo Masinda is appointed as Chief Executive of Corporate and Investment Banking (CIB), to succeed Kenny Fihla.  Luvuyo will report to Group Chief Executive Sim Tshabalala. Luvuyo joined Standard Bank in 2007 in the Finance function and has held the roles of Chief Financial Officer, Chief Risk Officer, and Head of Client Coverage for CIB, before being appointed as its Deputy Chief Executive in October 2023.  

Lungisa Fuzile, current Chief Executive of SBSA, will now take up two roles, the first being Group Head: Public Policy and Regulation, and the other being the Regional Chief Executive of the Group's Southern & Central Region of the Africa Regions portfolio.

Yinka Sanni, current Chief Executive of Standard Bank Africa Regions and Offshore, will take on the role of Group Executive, leading the Group's relationships with some of our top clients and regulators.  In addition to these duties, Yinka will support Kenny Fihla in refining the structure of the Africa Regions and Offshore businesses.

Lungisa Fuzile and Yinka Sanni will report to Deputy Group Chief Executive Kenny Fihla.

Group Chief Executive Sim Tshabalala says, "Kenny Fihla is a most experienced and successful executive – a leader's leader of immense effectiveness, having served the Group in various senior executive roles over the past 18 years.  I look forward to working even more closely in partnership with Kenny as we develop and execute the Group's strategy. I have no doubt that the Group's subsidiary network will continue to flourish and expand under Kenny's leadership. 

"Lungisa Fuzile has been an outstandingly successful leader of SBSA and has remarkable wisdom and deep experience in leadership, management, finance, economics, public policy, and regulatory matters. 

"Yinka Sanni has led Africa Regions and Offshore with distinction and has exceptionally deep banking, management, and leadership skills, combined with Africa-wide experience.  I am delighted that we will continue to be able to draw on Lungisa's and Yinka's talents in their new capacities."

Deputy Group Chief Executive Kenny Fihla says, "It is my great pleasure to pass the baton at CIB to Luvuyo Masinda.  Luvuyo is an exceptionally talented and accomplished executive. I am sure that he will lead CIB to new heights."

Chief Executive of Corporate and Investment Banking Luvuyo Masinda says, "I am honoured to be appointed as Kenny's successor.  He has built the strongest and most successful Corporate and Investment Banking business in Africa, and I am determined to extend his legacy."