Absa Group Limited, Barclays Bank Zambia’s parent company, has announced the appointment of Aaron Daniel Mminele as its new Group Chief Executive effective January 15, 2020, taking over from René van Wyk.
In a statement released, Monday, the Group announced Mminele’s appointment as new chief executive officer, having taken over from van Wyk, who had been leading the bank on an interim basis since Maria Ramos’ retirement in February last year.
“We are delighted to welcome Daniel to the Absa family. He brings with him a deep understanding of the financial services industry both in South Africa and abroad,” said Wendy Lucas-Bull, Chairperson of the Absa Group Board, in a press release.
“His unique skills-set and global perspective make him a suitable leader to drive our bank’s focus on long-term growth that is digitally-led across our markets. In terms of his starting point, Daniel will want to assess where we are in implementing that strategy and asses how he can play a role in strengthening the team’s ability to continue on that journey. As a leader, he will make his own assessment of what is required, but he has a complete open mandate as the Group CE to lead this organization. We are really looking forward to Daniel joining the Absa Group and to his leadership in driving our strategy and guiding this organisation into the future. We are also thankful to René for the job that he has done, especially overseeing the progress we made in our separation from Barclays Plc and the key milestones we achieved in 2019.”
And commenting on his landmark appointment, Mminele stated that he would work towards helping Absa fully establish itself as an independent African financial services group.
“I am delighted to be joining the Absa group. I look forward to being part of and leading the exciting journey that Absa has embarked upon to regain its rightful place in the South African market as well as to fully establish itself as an independent African financial services group with deep roots in South Africa,” stated Mminele.
Mminele spent more than 20 years at the South African Reserve Bank (SARB), where he rose through the ranks to be a Deputy Governor and a member of key committees, such as the Monetary Policy Committee and Financial Stability Committee.
His other main responsibilities at the SARB included financial markets and international economic relations and policy.
Absa, the Johannesburg Stock Exchange (JSE)-listed bank, launched its strategy in March, 2018, which focused on regaining market share in core businesses.
It then reconfigured its operating model and made changes to their Executive Committee to set up the business for implementation of the strategy.
In Zambia, the Absa Group has already begun a comprehensive process of rebranding its Barclays Bank branches, while launching new outlets in strategic areas.