Standard Bank Group Ltd., Africa\u2019s largest lender by assets, is set to lose two more top executives to smaller rival Absa Group Ltd.<\/p>\n\n\n\n
The lender\u2019s investment-banking unit appointed Clive Potter, the head of client coverage in South Africa for the same division at Standard, as managing executive for client coverage.<\/p>\n\n\n\n
Meanwhile, Francisco Khoza, the head of legal, will join the Absa team as deputy general group counsel, Absa said in response to queries.<\/p>\n\n\n\n
Potter will start on March 30 while Khoza begins on April 1, said Daniel Munslow, Absa\u2019s managing executive for group communications. Potter spent more than two decades at Standard Bank.<\/p>\n\n\n\n
The executives follow Kenny Fihla, who held various roles at Standard for 18 years before joining Absa as chief executive officer in June. <\/p>\n\n\n\n
Standard has about $195 billion in assets and a footprint across 21 countries on the continent.<\/p>\n\n\n\n
Others who previously joined Fihla from Standard include Zaid Moola, who now heads Absa\u2019s corporate and investment-banking unit, and Musa Motloung, who was appointed group strategic risk officer.<\/p>\n\n\n\n
Absa is smaller than its rival, with about $122 billion in assets and operations in 12 African countries. <\/p>\n\n\n\n
Its most recent acquisitions include the purchase of Standard Chartered Plc\u2019s Uganda business, and the retail and business banking portfolio of HSBC Holdings Plc in Mauritius.<\/p>\n\n\n\n
Since Fihla joined Absa, its shares have climbed 43%, outpacing the 26% gain in the FTSE\/JSE Banks Index over the same period and giving the lender a market value of R220 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"
Standard Bank, Africa\u2019s largest lender by assets, is set to lose two more top executives to smaller rival Absa.<\/p>\n","protected":false},"author":59,"featured_media":794531,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[961],"tags":[29,499],"class_list":["post-848431","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-absa","tag-standard-bank"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/848431","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=848431"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/848431\/revisions"}],"predecessor-version":[{"id":848432,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/848431\/revisions\/848432"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/794531"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=848431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=848431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=848431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}