Standard Bank appoints former Treasury DG Lungisa Fuzile as SA CEO
Former Treasury director general Lugisa Fuzile has been appointed as CEO of Standard Bank South Africa.
The appointment will take effect from 15 January 2018.
Fuzile takes over from Sim Tshabalala who has served as chief executive of Standard Bank South Africa from June 2008 to date.
This appointment follows the recent changes to the group’s executive structure, which resulted in the disbanding of the joint group chief executive construct.
The leadership of SBSA was a component of Tshabalala’s responsibilities when he served as the joint-group chief executive. This appointment removes the dual role for the group CEO, which had “become both unsustainable and inappropriate”, Standard Bank said.
Fuzile will be accountable to the board of SBSA, with a matrix reporting line to the group chief executive, Sim Tshabalala.
Fuzile has had a 20-year career in public service, culminating in his role as Director-General at the National Treasury from May 2011 until May 2017.
Loading ...