<\/p>\n
Rothschild & Co South Africa Managing Director and Africa Co-Head Giles Douglas will join lender Absa Group as the continent\u2019s third-largest bank builds a team to boost its competitiveness and win market share.<\/p>\n
Douglas will start as managing executive of Absa\u2019s investment bank on July 27, the lender said in response to questions. He will report to Zaid Moola, who was also recently hired from Standard Bank Group as chief of corporate and investment banking.<\/p>\n
\u201cGiles brings more than 30 years of investment-banking experience,\u201d Absa managing executive for group communications Daniel Munslow said. \u201cHe has deep expertise across mergers and acquisitions, strategic advisory and capital structuring, supporting clients through growth, transformation and value creation in diverse market environments.\u201d<\/p>\n
The appointment follows a string of high-level selections by Absa Chief Executive Officer Kenny Fihla. The lender most recently hired Deutsche Bank AG South Africa CEO and country manager Saloshni Pillay to lead its investment bank in the country.<\/p>\n
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At Rothschild, Douglas headed some of the largest recent African transactions.<\/p>\n
These include Anglo American Plc\u2019s separation of its platinum business that\u2019s now known as Valterra Platinum and Petroliam Nasional Bhd\u2019s sale of Engen. He has also been engaged in the sale of Shell Plc\u2019s downstream assets in South Africa, among other deals.<\/p>\n
As part of Fihla\u2019s strategy to regain market share, the CEO previously said he sought more deals to grow the bank\u2019s footprint in Africa. His line-up of high-level executives indicates that the lender is heading for a serious deal streak and market-share grab.<\/p>\n
Absa has had six CEOs since 2019. Since Fihla\u2019s appointment in June last year, its shares have climbed about 30%, outpacing a 20% gain in the FTSE\/JSE Banks Index over the same period.<\/p>\n
The Johannesburg-based lender, which has a presence in 12 African countries, recently acquired Standard Chartered Plc\u2019s Ugandan unit and HSBC Holdings Plc\u2019s retail and business-banking portfolio in Mauritius.<\/p>\n
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Other senior executives poached in recent months include Standard Bank\u2019s Clive Potter to head client coverage at the investment bank.<\/p>\n
Musa Motloung, also hired from Standard Bank, took over as the group\u2019s strategic risk officer while M-PESA Africa Managing Director Sitoyo Lopokoiyit is heading personal and private banking.<\/p>\n
South Africa, the largest economy on the continent, also saw other movements in among top banking executives, including JPMorgan Chase & Co.\u2019s Andr\u00e9 Ross joining Citigroup Inc. to be its country officer and banking head locally.<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#Rothschild #executive #Douglas #joins #top #deals #recruits #Absa<\/p>\n","protected":false},"excerpt":{"rendered":"
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