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STANDARD BANK GROUP LIMITED - Standard Bank announces senior leadership changes

Release Date: 30/05/2017 07:07
Code(s): SBK     PDF:  
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Standard Bank announces senior leadership changes

Standard Bank Group Limited
Registration No. 1969/017128/06
Incorporated in the Republic of South Africa
JSE share code: SBK ISIN: ZAE000109815
NSX share code: SNB NSX share code: SNB ZAE000109815
(“Standard Bank Group” or “the Group” or “the Company”)


STANDARD BANK ANNOUNCES SENIOR LEADERSHIP CHANGES

Standard Bank Group today announced senior leadership changes to its Corporate &
Investment Banking (CIB) division. Following the appointment of David Munro as Chief
Executive Officer (CEO) of Liberty, Kenny Fihla, the current Deputy Chief Executive and Head
of Client Coverage CIB, has been appointed as Chief Executive CIB, with immediate effect.
Mr Fihla has been a key player in driving CIB’s growth and in managing key corporate clients
across the continent and major financial centres around the globe. He has demonstrated his
ability to consistently drive performance in his various leadership roles with CIB and his
experience equips him well as he takes on his new position. Mr Fihla was previously the Chief
Executive of Business Against Crime from 2003 to 2006 and prior to that held various
leadership positions within the public sector.

Sim Tshabalala, Chief Executive of the Standard Bank Group says, “These appointments
demonstrate Standard Bank’s deep pool of expertise and our ability to integrate and optimise
the deployment of our key talent.”

Thabo Dloti, the current CEO of Liberty, is leaving Liberty following a difference of opinion with
the Board on the immediate focus of the company at a time when the organisation is facing
tough operational and environmental challenges.

Mr Dloti believes that given this environment, alignment among key stakeholders is imperative
to ensure the effective execution of the strategy required to drive the company forward. This
alignment, coupled with the ability to act decisively, is in the best interests of the company and
hence Mr Dloti is stepping aside.

“Given Liberty’s importance as an institution to the Standard Bank Group, our ongoing priority
is to enable the company to achieve its growth by focusing on a short-term recovery plan and
a longer-term strategy to reinforce its competitiveness. Liberty remains a fundamentally sound
business and Standard Bank is confident of Liberty’s long-term profitability, competitiveness
and sustainability,” says Mr Tshabalala.

Mr Tshabalala expressed his appreciation for the role David has played at CIB and wished
David, Kenny and their respective teams’ success going forward.

Johannesburg
30 May 2017

Lead Sponsor
The Standard Bank of South Africa Limited

Independent Sponsor
Deutsche Securities (SA) Proprietary Limited

Namibian sponsor
Simonis Storm Securities (Proprietary) Limited

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