Standard Bank Group has further strengthened its Personal and Business Banking (PBB) franchise with the announcement of several key appointments.
Peter Schlebusch has been appointed Chief Executive, Personal and Business Banking, Standard Bank Group. He was the former CE of PBB South Africa for the past 5 years.
Ben Kruger, Deputy Chief Executive of Standard Bank Group says: "Peter has a deep understanding of personal and business banking. He has helped grow and develop the PBB franchise in South Africa and we are confident that he will use his skills and vast experience to grow and consolidate our PBB business across the continent." Mr Schlebusch will report to Mr Kruger.
Funeka Ntombela takes over as Chief Executive, PBB South Africa. She was the former head of Credit at PBB South Africa. Terry Moodley remains Chief Executive of PBB Rest of Africa.
In addition, Leon Barnard has been appointed Head of Vehicle and Asset Finance, Personal and Business Banking. Audrey Mothupi takes over from Mr Barnard as Head of Inclusive Banking, Personal and Business Banking, South Africa. Chris Sweeney, the former CE of PBB International, has been appointed Head of Card Division, Personal and Business Banking. As part of Standard Bank's focus on ensuring synergy across business lines, VAF and Card will be run as single product lines continent wide
Mr Schlebusch says: "We see excellent growth opportunities in Africa. With a presence in 18 African countries Standard Bank is uniquely positioned to take advantage of growth in Africa and provide banking services to an ever increasing client base. Consequently, Africa remains at the centre of the Standard Bank Group strategy."
Standard Bank's Africa strategy remains unchanged. It will continue to focus on improving ROE, growing organically, driving improved profitability, improving synergy between CIB and PBB, focusing on operational efficiency and investing in systems and people.
Ms Ntombela says: "Standard Bank is on a path to ensure it continues delivering on customer needs and remains relevant in the societies in which it operates. As part of the team that put together the PBB's strategy for growth to 2015 and beyond, I will continue executing against this. Standard Bank is on track to meet its long term goals and I look forward to building on and being part of our continued success in PBB."
PBB will focus on leveraging the group's broader network, expertise and distribution capability to enhance service offering to customers. This will help ensure efficiency savings.
Currently PBB contributes 62% of the group's total income (R20 billion at June 30 2012) and 43% of the group's headline earnings (R3.2 billion at June 30 2012). PBB has 1216 branches, around 13 million customers and more than 20 000 staff across Africa.
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