Standard Bank Group deputy CEO and CEO of Standard Bank of South Africa (SBSA), Kenny Fihla, the has tendered his resignation after an illustrious 18-year tenure at the bank.
Standard Bank Group CEO, Sim Tshabalala, announced in a statement on Monday that Fihla tendered his resignation on Sunday night.
Effective immediately, Fihla will commence his garden leave, a transition that Tshabalala acknowledged will be profoundly felt throughout the bank.
"He will proceed on garden leave as of today. Whilst this is a heavy blow for us, the Group is blessed with a surfeit of talent and deep succession pools. Further announcements in respect of the leadership of our geographies will be made in due course," Tshabalala said.
Fihla joined Standard Bank in 2006, stepping on board as an executive in the Financial Asset Services sector of Corporate & Investment Banking (CIB).
His career trajectory within the organisation reflects both his dedication and prowess, having held several influential roles including Head of Transactional Products & Services and Head of Client Coverage. In June 2017, Fihla was appointed CEO of CIB, a role where he drove significant achievements until his resignation.
During his tenure as CEO, Fihla oversaw a remarkable doubling of headline earnings for the division, which rose to R20.5 billion, and achieved a notable compound annual growth rate of 8.6%.
His strategic vision and commitment to excellence positioned CIB as a formidable player in the banking sector both in South Africa and internationally. He garnered respect as an accomplished banker and leader, not only on the African continent but also on the global stage.
Tshabalala said Fihla’s resignation has left an indelible mark on Standard Bank, compelling stakeholders to reflect on his extensive contributions.
"We are fortunate to have been able to draw on his unique combination of experience and wisdom in business, government and the labour movement. We wish Kenny continued success on his onward journey," Tshabalala said.
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