By Ian Walker
LONDON--Standard Bank Group Ltd. (SBK.JO) said Thursday it has
appointed Thulani Sikhulu Gcabashe chairman of the group and The
Standard Bank of South Africa Ltd., replacing Fred Phaswana who is
retiring at the annual shareholders' meeting on May 28.
The largest African bank by assets and earnings said Mr.
Gcabashe will review his current commitments, including reducing
his executive day-to-day involvement at BuiltAfrica Holdings, the
renewable energy company that he founded, due to his increased
commitments in his new role.
Over a period of time Mr. Gcabashe will also be stepping down as
chairman of Imperial Holdings, chairman of MTN Zakhele and
non-executive director of Togo Invest, Standard Bank said.
Mr. Gcabashe has been an independent non-executive director of
the Standard Bank Group and Standard Bank of South Africa since
2003.
-Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
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