Former Reserve Bank Deputy Governor Daniel Mminele has been appointed the new Group Chief Executive Officer of the Absa Group with effect from Wednesday, 15 January 2020.

He worked at the Reserve Bank‘s financial markets and international banking departments, before being appointed deputy governor responsible for financial markets and international economic relations.

Mminele served at the Reserve Bank for over 20 years and was Deputy Governor for two terms. He will take over from former Absa Chief Executive Officer Maria Ramos who retired at the end of February 2019.

Absa Group Board Chairperson Wendy Lucas-Bull says one of Mminele’s first responsibilities will be to oversee the implementation of Absa’s new strategy.

“Being a South African and being seeped in the history of understanding what the challenges are in South Africa at the moment, he will be the right kind of leadership prospective in terms of navigating the stakeholder environment which the bank faces not only in South Africa but across the continent. And with South Africa being our major market and being a significant portion of our bottom line it is absolutely imperative that we have a South African lead the organisation at this point in time.”