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Absa names ex-South African central bank official its new CEO

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Absa names ex-South African central bank official its new CEO

South Africa's Absa Group Ltd. announced the appointment of former central bank official Aaron Daniel Mminele as CEO of the group and unit Absa Bank Ltd., effective Jan. 15.

Mminele, a two-term deputy governor of the South African Reserve Bank, will take over from René van Wyk, who served as CEO on an interim basis following the retirement of Maria Ramos in February 2019.

Van Wyk will step down Jan. 14 but will remain with the group as an executive director until the end of January for handover purposes. He will rejoin the boards of Absa Group and Absa Bank as a nonexecutive director after a six-month cooling off period, according to a Jan. 6 statement.