Changes to Absa's executive committee announced

• Published date: 27 April 2024
• Author: Hendrik Hancke
• Publication title: TimesLIVE (Johannesburg, South Africa)

The banking giant said in a statement the changes were "aimed at accelerating the execution of the group's strategy to create superior commercial performance and enhance market competitiveness"

"They are also in line with Absa's transformation, diversity and inclusion agenda."

Deon Raju, currently the group chief risk officer and former group treasurer, has been appointed the new group financial director with immediate effect.

"Deon will also join the Absa Group Ltd and Absa Bank Ltd boards as an executive director. He is a chartered accountant (CA) SA and chartered financial analyst (CFA) and brings with him over 20 years of experience and expertise from both the finance and risk functions at Absa," the group said.

"We extend our gratitude to Chris Snyman, who played a key transitional role as interim finance director over the past few months.

"Rajal Vaidya — currently chief risk officer at Absa Corporate and Investment Banking — will be appointed as interim group chief risk officer.

"Christine Wu will replace Cowyk Fox as chief executive: everyday banking, also with immediate effect."

According to the statement, Wu joined Absa in 2019 as an executive at Absa Retail and Business Banking.

"In 2022, she transitioned to Everyday Banking as a managing executive: consumer product, where she has been responsible for the...