| Fri 12 Feb 2010, 16:00 | | ASA/ABSP - ABSA Group Limited/ABSA Bank Limited - Appointment Of Group |
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JSE ABSP ASA
ABSP AMAGB
ASA/ABSP - ABSA Group Limited/ABSA Bank Limited - Appointment Of Group
Finance Director
ABSA GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1986/003934/06)
ISIN: ZAE000067237
JSE share code: ASA
Issuer code: AMAGB
(Absa Group or Absa or the Group)
ABSA BANK LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1986/004794/06)
ISIN: ZAE000079810
JSE share code: ABSP
(Absa Bank)
APPOINTMENT OF GROUP FINANCE DIRECTOR
Absa Group is pleased to announce that David Hodnett has been appointed as
Group Finance Director of Absa Group Limited and Absa Bank Limited. David
succeeds Jacques Schindehutte, who will be leaving the Group on 28 February
2010.
David will also join the Absa Group and Absa Bank Boards of Directors as an
Executive Director with effect from 1 March 2010. He will continue to report
to the Group Chief Executive and serve as a member of the Group Executive
Committee.
David is currently Group Risk Officer, having joined Absa in January 2008
from Standard Bank where he had a successful tenure of 7 years. Prior to
Standard Bank, David was a partner at KPMG. David is a registered Chartered
Accountant, holds a MBA and is currently studying for his LLB through the
University of the Free State.
Says Maria Ramos, Absa Group Chief Executive, "The role of Group Finance
Director within a financial services organisation is a critical one. In our
search, we cast our net wide, and considered both internal and external
candidates. We are therefore pleased to be in a position to appoint a person
from within the organisation, who after a thorough search has proven to be
the natural choice for the job. David has a strong knowledge of our industry
as well as of financial management, and has proven himself to be a valuable
member of Absa`s Executive Committee".
David will retain responsibility for Group Risk until such time as a
permanent appointment has been made. The Group will remain uncompromising in
terms of risk management, and is comfortable that the existing risk
structures which have been put in place will ensure a smooth process in the
interim.
Johannesburg
12 February 2010
Enquiries: Investors and analysts
Louis von Zeuner
Deputy Group Chief Executive
(+2711) 350-3498
(+2782) 454-9259
E-mail: louisvz@absa.co.za
Enquiries: Media
Happy Ntshingila
Executive Director:
Absa Group Marketing & Communication
(+2711) 350-6477
E-mail: happynt@absa.co.za
Sponsor:
J.P. Morgan Equities Limited
Date: 12/02/2010 16:00:02 Produced by the JSE SENS Department.
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