Absa appoints new CEO

Kenny Fihla will take over as Absa CEO, leaving his jobs as Deputy CEO of the Standard Bank Group and the CEO of Standard Bank of South Africa.

“Fihla is a recognised leader with substantial Pan-African banking experience and a proven track record,” said Absa.

Fihla, who has worked at the Standard Bank Group for 18 years, will serve his last day on Friday, 13 June 2025.

He will also resign as an executive director of Standard Bank South Africa and the associated board committees.

He will cease to be a non-executive director and chairman of the boards of ICBC Standard Bank Plc and Stanbic Africa Holdings Limited, respectively.

Standard Bank thanked Fihla for his services and said the necessary succession planning measures would be announced soon.

His resignation comes only months after being promoted to his current role at Standard Bank, with his promotion to Group Deputy CEO coming only in September 2024.

Fihla was previously the CEO of Standard Bank Corporate and Investment Banking before moving to his current role in September 2024.

As the Deputy CEO, he is responsible for Standard Bank South Africa and the group’s Africa regions and offshore businesses, reporting to the group CEO, Sim Tshabalala.

Fihla holds an MSc in Financial Economics from the University of London and an MBA from the University of the Witwatersrand.

He will become Absa’s seventh CEO in as many years. Following the early retirement of CEO Arrie Rautenbach, Absa CEO Corporate and Investment Charles Russon took over as Interim CEO last year.

Absa said Russon will stay on as Interim CEO until 16 June 2025. He will work closely with Fihla to ensure a smooth leadership transition, whereafter he will take another key senior role.

The CEOs, permanent and interim, of Absa over the last few years can be found below:

• Maria Ramos – March 2009 to February 2019
• René van Wyk – March 2019 to January 2020
• Daniel Mminele – January 2020 to April 2021
• Jason Quinn – April 2021 to March 2022
• Arrie Rautenbach – March 2022 to October 2024
• Charles Russon – October 2024 to June 2025
• Kenny Fihla – June 2025 –

Bank changes

Fihla’s new job marks another major executive change at South Africa’s ‘big four’ banks, with big changes also seen at Nedbank and FirstRand.

Last year, Jason Quinn, Absa’s former finance director, joined Nedbank as CEO. Quinn has previously served as Absa’s interim CEO.

Harry Kellan was promoted to FNB’s CEO, replacing Jacques Celliers. He was FirstRand’s CFO for a decade. Mary Vilikazi was also promoted from FirstRand CFO to CEO.