Absa

In 2018 Rautenbach was appointed to lead retail and business banking (RBB) South Africa by Ramos, and by the end of that year he had presented a credible, ...

And what’s noticeable is the vast number of diverse candidates running various pillars of the bank, many now with decades of experience. He’s proved his mettle, and likely never had any aspirations on the top job. Rautenbach – and his team – managed to turn RBB around. Under successive efforts by Steve Booysen and Maria Ramos, the bank’s culture shifted. Last year, this number was 57%. Absa had to get this selection right.

Almost a year after the shock departure of Daniel Mminele from the helm of Absa, the banking group has appointed Arrie Rautenbach as its new chief executive ...

I became enamoured of the brave, passionate and ready people of Absa and wish the group well for the future,” Mminele said. “Arrie is aligned with the board on our organisational imperatives, including talent management and transformation. Rautenbach is the first internally appointed chief executive since 2006.

Transformation questions raised as bank group's 25-year veteran is set to become CEO immediately.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily. Tuesday’s appointment of Absa lifer Rautenbach comes as the group pushes to regain market share in key divisions in a fiercely competitive industry looking for new streams of income beyond basic financial services... Absa has its fourth boss in three years, promoting Arrie Rautenbach, head of its retail and business bank, to the CEO role and ending a leadership vacuum that lasted 11 months after the abrupt departure of Daniel Mminele.

Almost a year after Daniel Mminele quit as Absa CEO, the banking group appointed a new CEO.

At the time, Absa chair Wendy Lucas-Bull said Absa's leadership team also didn't see eye-to-eye with Mminele on how to do things. In November last year, the board axed Absa director Sipho Pityana after he took the Reserve Bank’s Prudential Authority to court for allegedly blocking his appointment to become chairman of Absa. Mminele left Absa following clashes with the board on how to implement the bank’s strategy.

Financial services firm Absa has appointed Arrie Rautenbach as chief executive officer (CEO) and executive director of Absa Group and Absa Bank, effective…

She will take the position of interim chief executive: RBB and remains on the group executive committee. Punki Modise, currently interim financial director of Absa Group and Absa Bank, will relinquish these roles and step down as an executive director of the boards, with immediate effect. Jason Quinn, currently interim group CEO, will resume his role as financial director of Absa Group and Absa Bank, effective immediately, and remain an executive director on the boards.

Rautenbach is the group's first internally appointed CEO since 2006 and hails from Absa's retail and business banking (RBB) unit. Absa's move to appoint an ...

She will take the position of interim chief executive: RBB and remains on the group executive committee. “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. Arrie is aligned with the board on our organisational imperatives, including talent management and transformation.” “During [this] time the group’s positive operational momentum was maintained. “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.” “Arrie, who is currently chief executive of the group’s RBB unit … 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,” the bank pointed out.