Barclays Africa Group Ltd. said David Hodnett has resigned as an executive director and deputy CEO of the group and of unit Absa Bank Ltd., effective immediately.
Hodnett will take part in a handover process between May and August. He resigned from Barclays Africa after turning down an offer to head the group's corporate investment bank, Business Day reported, citing the group's chairwoman, Wendy Lucas-Bull.
Lucas-Bull did not comment on Hodnett's reasons for rejecting the offer, although the latter had likely seen it as a demotion from his current post, according to the May 16 report.
Hodnett, who Barclays Africa previously said will take a two-month sabbatical as it announced restructuring plans, was stripped of his other role as head of South African banking as part of the overhaul, the newspaper noted. Hodnett led both the group's corporate investment bank and its retail and business bank in South Africa as part of his former role.
Lucas-Bull said Barclays Africa will proceed with the appointment of a new CEO for its corporate and investment banking unit to oversee current joint heads Temi Ofong and Mike Harvey, Business Day said.