| Mon 9 Apr 2018, 9:45 | | BARCLAYS AFRICA GROUP LIMITED - Changes to group structure and management |
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BGA ABSP 201804090018A
Changes to group structure and management
BARCLAYS AFRICA GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1986/003934/06)
ISIN: ZAE000174124
JSE share code: BGA
(Barclays Africa Group or the Group)
ABSA BANK LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1986/004794/06)
JSE share code: ABSP
ISIN: ZAE000079810
CHANGES TO GROUP STRUCTURE AND MANAGEMENT
In accordance with paragraph 3.59 (c) of the JSE Listings Requirements, shareholders are
advised of the change in executive responsibilities of a director, as set out below, with
immediate effect.
The Group’s new growth strategy, announced on 1 March 2018 requires a change in
operating model to deliver the three stated priorities: (i) restoring market leadership in core
businesses, (ii) creating a thriving organisation; and (iii) building new propositions.
The new Group structure will consist of four businesses: Retail and Business Banking (RBB)
South Africa; Corporate and Investment Banking (CIB); Rest of Africa Banking; and Wealth,
Investment Management and Insurance (WIMI). The chief executive of each of these
businesses will report directly to the Group Chief Executive. South Africa Banking will cease
to be a management or reporting segment.
David Hodnett, currently Deputy Chief Executive, will take a two-month sabbatical.
Arrie Rautenbach becomes Chief Executive Officer: RBB South Africa. He is currently the
Group’s Chief Risk Officer and has extensive retail banking experience.
CIB remains under the joint leadership of Temi Ofong and Mike Harvey. They will report to
Maria Ramos, Group Chief Executive Officer, while David is on sabbatical.
Peter Matlare, currently Deputy Chief Executive, remains responsible for Rest of Africa
Banking.
Nomkhita Nqweni continues as Chief Executive Officer, WIMI.
Johannesburg
9 April 2018
Enquiries:
Alan Hartdegen
+27 (0) 72 576 2713
E-mail: Alan.Hartdegen@barclaysafrica.com
Lead Independent Sponsor:
J.P. Morgan Equities South Africa Proprietary Limited
Joint Sponsor:
Absa Bank - Corporate and Investment Bank
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