Lungisa Fuzile apointed new CEO for Standard Bank

Standard Bank has appointed former Treasury director-general Lungisa Fuzile as CEO for SA. Lungisa will effectively take over from Sim Tshabalala, who has served in the role since 2008.

“This appointment follows the recent changes to the group’s executive structure, which resulted in the disbanding of the joint group CEO construct,” Standard Bank Group said in a statement.

Ben Kruger stepped down as joint CEO of Standard Bank Group in September, leaving Tshabalala as the sole head of Africa’s biggest bank by assets.

 Sim Tshabalala says: “We welcome Mr Fuzile to the Group and look forward to working with him in his new role. Mr Fuzile has an outstanding reputation in our industry. He will play a critical role in helping the Group to provide consistently excellent service, meet our financial targets, and achieve the Group’s purpose: Africa is our home we drive her growth.”Mr Fuzile says “I look forward to joining the team at Standard Bank and to making a meaningful contribution to the success of SBSA and the Group as a whole.”

Mr Fuzile’s appointment is effective 15 January 2018.

“Managing the national treasury is a huge job. He had to set budgets and targets, and hold people accountable to these,” Tshabalala said.

“We wish to congratulate the former Director-General of National Treasury, Lungisa Fuzile, on his new appointment as the chief executive officer of Standard Bank South Africa,” the DA said. “We wish him well in his new appointment and know he will make a huge contribution to the banking sector and to South Africa,” said the party’s finance spokesman David Maynier.

Lungisa Fuzile. Picture: FINANCIAL MAIL

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