Standard Bank Group on Tuesday announced senior leadership changes to its corporate & investment banking (CIB) division, following the resignation of Liberty CEO Thabo Dloti.
David Munro has been appointed as the new CEO of Liberty, while Kenny Fihla, the current deputy chief executive and head of client coverage CIB, has been appointed as chief executive CIB, with immediate effect.
“Mr Fihla has been a key player in driving CIB’s growth and in managing key corporate clients across the continent and major financial centres around the globe. He has demonstrated his ability to consistently drive performance in his various leadership roles with CIB and his experience equips him well as he takes on his new position,” the bank said in a statement.
Fihla was previously the chief executive of Business Against Crime from 2003 to 2006 and prior to that held various leadership positions within the public sector.
Standard Bank noted that Thabo Dloti, the current CEO of Liberty, is leaving Liberty following a difference of opinion with the Board on the immediate focus of the company at a time when the organisation is facing tough operational and environmental challenges.
“Mr Dloti believes that given this environment, alignment among key stakeholders is imperative to ensure the effective execution of the strategy required to drive the company forward. This alignment, coupled with the ability to act decisively, is in the best interests of the company and hence Mr Dloti is stepping aside,” the bank said.