Standard Bank Announces Executive Leadership Changes

Standard Bank Group has announced significant changes in its senior executive management, with Kenny Fihla being promoted to Deputy Chief Executive Officer and taking over as Chief Executive of Standard Bank of South Africa Limited, effective September 1, 2024. Fihla will succeed Lungisa Fuzile, who transitions to Group Head of Public Policy and Regulation while also overseeing the southern and central Africa regions. Luvuyo Masinda is set to become the new Chief Executive of Corporate and Investment Banking, taking over from Fihla. These restructuring efforts aim to enhance management efficiency and competitiveness amid challenging economic conditions, including high interest rates and weak consumer confidence in South Africa. Yinka Sanni will also assume a new role as Group Executive, focusing on client and regulatory relationships. The leadership changes reflect a strategic focus on growth within the African market while streamlining executive responsibilities.