<\/p>\n
Deutsche Bank\u2019s South Africa head Saloshni Pillay will join Absa Group to lead its investment bank in the country as the continent\u2019s third-largest lender by assets seeks to boost its competitiveness.<\/p>\n
Pillay, who served as chief executive officer and country manager of South Africa and head of investment banking for sub-Saharan Africa at Deutsche Bank, will take up her new role as managing executive for corporate and investment banking South Africa at Absa in mid-July, said Daniel Munslow, the lender\u2019s spokesman.<\/p>\n
Pillay brings more than 25 years of experience in corporate and investment banking across global markets, Munslow said in response to a Bloomberg query. \u201cHer appointment supports Absa\u2019s focus on strengthening its corporate and investment banking franchise in South Africa and delivering sustainable growth,\u201d he said.<\/p>\n
The hire is the latest in a string of appointments by Absa Group CEO Kenny Fihla as he seeks to stabilise leadership at the lender, which has had six CEOs since 2019. Fihla has said that management stability will help the bank\u2019s more than 36 000 employees focus on clients and boost its return on equity.<\/p>\n
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The lender has poached several senior executives, including Zaid Moola, who heads its corporate and investment banking unit, and Musa Motloung, who was appointed group strategic risk officer, both from Standard Bank Group. It also hired M-PESA Africa\u2019s Sitoyo Lopokoiyit, who took over the personal and private banking unit at the start of April.<\/p>\n
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Pillay previously held senior leadership roles at Absa including in global markets sales and structuring, risk solutions and client solutions, Munslow said. She has also had leadership positions at Citigroup, Standard Bank and Cr\u00e9dit Agricole\u2019s CIB unit.<\/p>\n
Since Fihla joined Absa on 17 June, the bank\u2019s shares have climbed almost a third, outpacing the 26% gain in the FTSE\/JSE Banks Index over the same period and lifting its market value to R208 billion.<\/p>\n
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Read: Fihla says \u2018goodbye Standard Bank, hello Absa\u2019<\/p>\n
The bank\u2019s latest deals include the purchase of Standard Chartered Plc\u2019s Uganda unit and HSBC Holdings Plc\u2019s retail and business banking portfolio in Mauritius.<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#Deutsches #CEO #join #Absa #Investment #Bank<\/p>\n","protected":false},"excerpt":{"rendered":"
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