DailySun
Standard Bank Group has appointed David Hodnett as the new CEO of Standard Bank of South Africa (SBSA) as part of its leadership succession plan, as announced on Monday.
Currently, Hodnett is serving as the group’s chief risk officer and head of corporate affairs.
Read: In the bank chief merry-go-round, there’s only one clear winner …
This appointment comes in anticipation of the upcoming retirement of Standard Bank Group CEO Sim Tshabalala, who is expected to retire by the end of 2027. Importantly, the bank has increased the retirement age for its executives, a policy that will not affect Tshabalala or group CFO Arno Daehnke, who is also scheduled to step down in 2027.
Hodnett brings over 30 years of leadership experience in the financial services sector. His previous roles include senior positions at Absa and Barclays prior to joining Standard Bank in 2019.
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Thabani Ndwandwe will succeed Hodnett as group chief risk officer and will also join the group leadership council, while maintaining his position as SBSA chief risk officer.
Ndwandwe, who has been with the bank since 2004, has overseen risk portfolios across various jurisdictions.
Thabani Ndwandwe, the new chief risk officer at Standard Bank. Image: Supplied
Additionally, Lungisa Fuzile’s role as interim CEO for Africa Regions and Offshore has been confirmed as permanent.
“These significant appointments underscore the group’s strong leadership succession pipeline,” stated Tshabalala.
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“David has extensive experience in South Africa’s financial services sector and has demonstrated remarkable leadership within our group.”
“Since joining Standard Bank two decades ago, Thabani has shown exemplary leadership across the risk portfolio, while Lungisa has a proven track record of success.”
The effective dates for both Hodnett and Ndwandwe’s appointments are pending regulatory approval.
Read: Fihla says ‘goodbye Standard Bank, hello Absa’
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