Absa Group Limited (AGL) unveiled significant changes to its Executive Committee, aligning with a strategic initiative to spur growth and strengthen its market presence.

The restructuring aims to hasten the implementation of Absa’s strategy to boost commercial performance and competitive edge. It also reflects the company’s commitment to transformation, diversity, and inclusion.

Deon Raju, who has been serving as the Group Chief Risk Officer and was the former Group Treasurer, will take over as the new Group Financial Director effective immediately. Raju will also join both the Absa Group Limited and Absa Bank Limited Boards as an executive director. A chartered accountant (CA)SA and Chartered Financial Analyst (CFA), Raju brings over two decades of experience from finance and risk sectors within Absa.

Absa expressed gratitude to Chris Snyman for his pivotal role as Interim Finance Director in recent months.

Rajal Vaidya, presently the Chief Risk Officer at Absa Corporate and Investment Banking, will step in as the Interim Group Chief Risk Officer.

In the Everyday Banking Business Unit, Christine Wu will succeed Cowyk Fox as Chief Executive: Everyday Banking, also with immediate effect. Wu, who joined Absa in 2019 as an Executive at Absa Retail and Business Banking, moved to the Everyday Banking as a Managing Executive: Consumer Product in 2022. She has been pivotal in overseeing the consumer banking segment and steering Absa towards becoming a more digitally-focused and data-driven organization.

Absa also extended its thanks to Cowyk Fox for his significant contributions over the years, noting his decision to pursue opportunities outside the company.

“We congratulate our colleagues on their appointments and welcome the new Exco members. It is pleasing to note that the appointments announced today are internal colleagues who have proven track records of delivering results in their respective fields and will contribute further to driving growth and empowering Africa’s tomorrow,” said Absa Group CEO, Arrie Rautenbach.


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