In a significant shake-up of South Africa’s banking leadership, Absa Group has continued to strengthen its executive bench by welcoming several senior figures from Standard Bank, further intensifying competition between the country’s two largest lenders.
At the centre of the moves is Kenny Fihla, who formally took up the role of Group Chief Executive Officer at Absa on 17 June 2025, ending an 18-year career at Standard Bank where he rose to become Deputy CEO of the Group and CEO of Standard Bank South Africa.
Fihla’s appointment was confirmed following his resignation from Standard Bank earlier in the year, a move that surprised the market and marked one of the most high-profile leadership shifts in South African banking in recent times.
Under his leadership, Absa has been actively recruiting top talent from Standard Bank as part of a broader strategy to revitalise the bank and regain market share.
Most recently, the lender has announced the appointments of Clive Potter, formerly head of client coverage at Standard Bank’s Corporate and Investment Banking (CIB) unit, as Managing Executive for Client Coverage, and Francisco Khoza, Standard Bank’s head of legal, as Deputy Group General Counsel at Absa. Both executives are expected to take up their new roles in the coming months.
These moves form part of a broader trend under Fihla’s leadership, which has seen Absa recruit other key Standard Bank executives into strategic positions.
Among these are Zaid Moola, appointed CEO of Corporate and Investment Banking, and Musa Motloung, who joined as Group Strategic Risk Officer, both bringing deep experience from Standard Bank’s investment banking operations.
Industry analysts view the influx of Standard Bank talent as a calculated effort by Absa to accelerate its strategic growth agenda across South Africa and the rest of the continent, even as Standard Bank works to shore up its own leadership ranks following Fihla’s departure.