Standard Bank Appoints Lungisa Fuzile Chief Executive of SSBA
14 Dezember 2017 - 2:31PM
Dow Jones News
By Adam Clark
Standard Bank Group Ltd. (SBK.JO) said Thursday that it has
appointed Lungisa Fuzile as chief executive of its Standard Bank of
South Africa Ltd. (SSBA) subsidiary with effect from Jan 15,
2018.
The South African financial services company said Mr. Fuzile's
appointment is part of its plan to separate the position of joint
group chief executive Standard Bank Group and of SSBA, which it
said had become "unsustainable and inappropriate". Sim Tshabalala,
the current group chief executive, will continue as chief executive
of Standard Bank Group.
Standard Bank said Mr. Fuzile will be accountable to the board
of SSBA, but will also report to Mr. Tshabalala.
Mr. Fuzile was previously director general of the South African
National Treasury.
Shares in Standard Bank are up 3.5%, at ZAR176.10 at 1244
GMT.
Write to Adam Clark at adam.clark@dowjones.com;
@AdamDowJones
(END) Dow Jones Newswires
December 14, 2017 08:16 ET (13:16 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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