Former Treasury director general Lugisa Fuzile has been appointed as CEO of Standard Bank South Africa.<\/p>\n
The appointment will take effect from 15 January 2018.<\/p>\n
Fuzile takes over from Sim Tshabalala who has served as chief executive of Standard Bank South Africa from June 2008 to date.<\/p>\n
This appointment follows the recent changes to the group\u2019s executive structure, which resulted in the disbanding of the joint group chief executive construct.<\/p>\n
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.<\/p>\n
Fuzile will be accountable to the board of SBSA, with a matrix reporting line to the group chief executive, Sim Tshabalala.<\/p>\n
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.<\/p>\n