| Mon 2 Aug 2004, 14:11 | | ABSA GROUP LIMITED:BOOYSEN ANNOUNCES ABSA"S TOP TE |
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ABSA GROUP LIMITED:BOOYSEN ANNOUNCES ABSA`S TOP TEAM
ABSA GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1986/003934/06)
JSE CODE: ASA
Issuer code: AMAGB
ISIN CODE: ZAE000013389
Absa Media Release
2 August 2004
Booysen announces top Absa team
Steve Booysen, Absa`s new Group Chief Executive (GCE) from 1 August 2004, has
announced his new senior management team, reflecting an experienced and diverse
generation of bankers.
Responsibility for the Group`s key retail banking business units has been
largely placed in the hands of Peter Mageza and Louis von Zeuner, with Mageza
adding Business Banking and Absa`s African operations to his present Absa
Vehicle and Asset Finance role. Sizwe Tati, as announced earlier this month, has
been appointed managing executive of Absa Vehicle and Asset Finance, further
strengthening Mageza`s Commercial team.
Louis von Zeuner, a seasoned retail banker who has risen through the ranks of
Absa in the same way as retiring GCE Nallie Bosman, will now run most of the
traditional retail banking divisions of Retail, Mortgages, Flexi-Banking, Small
Business, and Card.
Booysen has also announced the appointment of a new executive director, Robert
Emslie, who will be responsible for Absa Corporate and Merchant Bank and the
Group`s International Banking Offices. Emslie, a chartered accountant, has been
with the Group since 1987 and held senior positions in the Group such as general
manager: Group Finance, managing executive of Absa`s Business Banking Services,
and, recently, managing executive of Absa Corporate and Merchant Bank.
Says Booysen: `The new executive team with their allocated responsibilities will
position Absa for the growth it envisages. I have full confidence in my new
team as they have the experience and skills needed to take Absa into the
future.`
The new team and their responsibilities will consist of the following Group
executive directors:
Laetitia van Dyk`s portfolio remains unchanged and she will be responsible for
Group Marketing, Black Economic Empowerment, Group Communication and Public
Affairs and Group People Management.
Israel Skosana`s portfolio has changed substantially and he has been given seven
additional responsibilities. He will, in future, be looking after Private Bank,
MLS Bank, Personal Financial Services, AllPay, Absa Real Estate and Asset
Management and Devco, Group Procurement and Logistics, ABVEST and Bankhaus
Wolbern.
Group Credit has been added to Pieter van der Merwe`s portfolio while he willl
continue to be responsible for Group Business and Technology Services, Group
Administration and Information Management.
Frans du Toit will remain as Group executive director of Group Finance, Group
Legal Services, Group Economic Research, Group Investor Relations, Group
Secretariat, Corporate Governance and Strategic Investments.
Charles Erasmus will still be the custodian of Absa`s Insurance divisions such
as Absa Brokers, Absa Life, Absa Insurance Company, Fiduciary and Investment
Services, Consultants and Actuaries, Health Care Consultants, Absa Investment
Management Services and Syndicate Investments.
In respect of succession planning for key strategic positions, Booysen also
announced that Jacques Schindehutte, currently Group Executive: Group Finance,
and Chief Financial Officer (CFO) of the Absa Group, is to succeed Frans du Toit
who will be retiring early 2005. Schindehutte, a Chartered Accountant, has
been with the Absa Group since October 1999 prior to which he amongst other
served with Transnet.
Nallie Bosman, who laid the foundation for Absa`s sterling performance over the
past few years and who handed over the reigns at Absa yesterday said, `Steve has
appointed a very competent team. Absa is in good hands and will continue to grow
its business on all levels. I have no doubt that the Group will perform
admirably in the years to come.`
The new appointment and portfolios are effective from 1 August 2004.
Ends
Issued by:
Nick Cairns
Group Consultant: Absa Group PR & Media Services
Tel: (011) 350-6565
For more information, please contact:
Steve Booysen
Absa Group Chief Executive
Tel: (011) 350-3047
Date: 02/08/2004 10:40:06 AM Produced by the JSE SENS Department
