STANDARD BANK NAMIBIA LIMITED - Appointment Of Chief Executive - Standard Bank Namibia Limited

Appointment Of Chief Executive - Standard Bank Namibia Limited

Standard Bank Namibia Limited
Incorporated in the Republic of Namibia
Registration number: 78/01799
(“The Company”)
Issuer code: SBN01 ISIN no.: ZAG000152927

APPOINTMENT OF CHIEF EXECUTIVE

Noteholders are hereby advised that SBN Holdings Limited has appointed its Head of Personal and
Business Banking, Mercia Geises, as its new Chief Executive. Mercia Geises will take over from current
Chief Executive Vetumbuavi Mungunda with effect from 1 May 2021.

“The Board is excited at the appointment of Mercia to lead us into an exciting new future following a well-
planned and well-executed leadership management and succession programme, which, inter alia, is a
demonstration of Standard Bank’s relentless commitment to growing our people and creating Namibian
leaders. The success of this leadership development programme is further reflected in the young,
dynamic and diverse executive leadership team in charge of the group. We are proud that the leadership
transition process has been smooth and in accordance with our plans,” says chairperson Herbert Maier.

In her current role, Mercia has been responsible for the retail banking franchise, the largest division in the
bank, which includes personal markets, the branch network and business banking with a headcount of
over 1,000 employees.

“Mercia has transformed and repositioned our retail banking division to be future-ready and spear-headed
the development of innovative initiatives and products such as PayPulse and BlueFuel. I am proud to
have worked with Mercia and I am confident that she is the right leader to take Standard Bank to the next
level. I look forward to working with Mercia over the ensuing 4 months in a different role, the role of
ensuring a smooth and seamless transfer of the leadership baton,” says outgoing Chief Executive
Vetumbuavi Mungunda.

Mercia will focus on creating value for clients and shareholders by continuing the transformation of
Standard Bank into a strong, digitally focused financial solutions provider. “We want to be the bank of
opportunity, offering seamless services that let our clients get on with what is important to them. Whether
you start a business, or save for the future, we will be there to help you grow,” she says.
Born and raised in Namibia’s Otjozondjupa region, Mercia is an experienced leader and an admitted
attorney whose qualifications include a B. Juris (UNAM), LLB and LLM Mercantile law (University of the
Free State), and an MBA (Stellenbosch University). Before joining Standard Bank in 2016, Mercia worked
at Old Mutual for 12 years, rising to the position of Chief Executive Officer of Old Mutual Investment
Group (Namibia).

“It is an honour to succeed Vetumbuavi, who has been an extraordinary leader for Standard Bank and
Namibia. Vetumbuavi has created a unique culture within Standard Bank that has enabled the team to be
empowered and to innovate with purpose,” says Mercia. “I am proud and delighted to serve as the next
Chief Executive and grateful to the leaders that found and nurtured me throughout my professional
journey, and to the Board of Directors for its trust.”


Johannesburg
27 November 2020
Debt Sponsor
The Standard Bank of South Africa Limited

Date: 27-11-2020 09:28:00
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