Joint CEOs for Standard Bank ‘good for transformation’

2013-03-09 09:23

Appointing Sim Tshabalala and Ben Kruger as joint CEOs to head Standard Bank has met the approval of the Black Management Forum.

“We congratulate Mr Tshabalala and Mr Kruger on their appointments and view this development as a step in the right direction towards transformation,” BMF managing director Nicholas Maweni said in a statement.

He said Tshabalala and Kruger’s appointments were in line with the forum’s stance on developing managerial leadership which reflected the demographics of the country.

On Thursday, Standard Bank announced Jacko Maree was retiring after 13 years of service.

Tshabalala and Kruger would be jointly held accountable and responsible for the management and performance of the Standard Bank Group.

Tshabalala would remain CEO of SBSA and take charge of the group’s banking businesses across the African continent.

He would also head the group’s wealth businesses, including responsibility for Liberty Holdings.

Kruger would remain in charge of personal and business banking and corporate and investment banking.

He would remain chairperson of Standard Bank Plc and also be responsible for the group risk function.

Maree would remain employed by the group as a senior banker focusing on key client relationships, but would not perform an executive or managerial role.

“We wish Mr Jacko Maree well in his new endeavours,” said Maweni.

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