Standard Bank CEO retires

2013-03-07 08:39

Jacko Maree, the chief executive of South Africa's Standard Bank, retired today after 13 years at the helm of Africa's biggest bank.

Standard Bank said 57-year-old Maree, one of the most respected figures in South African financial circles, would be replaced jointly by Sim Tshabalala, the head of its South African operations, and Ben Kruger, who runs its banking divisions.

“The board expresses its deep appreciation to Jacko for his substantial contribution to Standard Bank over a career of more than 32 years,” Standard Bank said in a statement.

Separately, Standard Bank reported a rise in full-year diluted earnings per share to 931.7 cents from 860.4 cents last year. Net interest income and non-interest revenue also rose.

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