CEO changes at Standard Bank

Standard Bank has announced that Group CEO Sim Tshabalala will take over as the Interim CEO of Standard Bank South Africa from 8 April 2025.

The move, which is subject to regulatory approval, will see Tshabalala act in a dual capacity as CEO of the Group and Standard Bank South Africa.

He will also serve as an executive director on the boards of both companies, until such a time as the boards make further announcements regarding executive succession planning.

Tshabalala takes over as Standard Bank South Africa CEO following the resignation of Kenny Fihla, who was also the group’s Deputy CEO.

Fihla is currently serving his notice period, but will take over as the Group CEO of Absa in the coming months. Fihla was previously the CEO of Standard Bank Corporate and Investment Banking.

Lungisa Fuzile, the current Regional Chief Executive for the Group’s South and Central Region, has also been appointed as Interim Chief Executive of Africa Regions and Offshore, with effect from 8 April 2025, subject to regulatory approval.

Fuzile will report to Sim Tshabalala and will join the Group Leadership Council. Fuzile was previously the CEO of Standard Bank South Africa, but left following a leadership change in 2024.

“Lungisa and I will work together closely as we continue to develop and execute the Group’s strategy in relation to its footprint outside of South Africa,” said Tshabalala.

“We congratulate Lungisa as he takes on these expanded responsibilities and wish him success in his new role.”