Absa Group has appointed Aaron Daniel Mminele as its new group chief executive effective 15th January 2020.
The appointment comes in the midst of the implementation of Absa’s strategy focused on regaining market share in core businesses following the successful sell-down by Barclays PLC of its majority stake.
Mminele’s appointment also comes at a time when Barclays Bank of Kenya is in the process of rebranding all its 84 branches countrywide to Absa by June this year.
In a press statement, Wendy Lucas-Bull, the chairman of the Absa Group board, has said Mminele is now tasked with assessing the progress of implementing the financial services group’s strategy and strengthening the team’s ability to continue on the journey.
Prior to his appointment, Mminele spent more than 20 years at the South African Reserve Bank, where he rose through the ranks to be a deputy governor and a member of key committees such as the monetary policy committee and financial stability committee.
Mminele will take over from René Van Wyk, who has been ABSA’S interim CEO since February 2019.