Absa announces changes to its executive committee
As part of a strategic plan to drive growth and reinforce our position in the market, Absa Group Limited (AGL) has announced changes to the group’s Executive Committee.
The company says the changes are aimed at accelerating the execution of the Group’s strategy to create superior commercial performance and enhance market competitiveness and in line with Absa’s transformation, diversity and inclusion agenda.
Group Financial Director
Deon Raju (currently Group Chief Risk Officer and former Group Treasurer) will be appointed the new Group Financial Director with immediate effect. Deon will also join the Absa Group Limited and Absa Bank Limited 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.
Interim Group Chief Risk Officer
Rajal Vaidya (currently Chief Risk Officer at Absa Corporate and Investment Banking) will be appointed as Interim Group Chief Risk Officer.
Everyday Banking Business Unit
Christine Wu will replace Cowyk Fox as Chief Executive: Everyday Banking, also with immediate effect. Christine 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 consumer banking segment. She had end-to-end accountability for core product performance and the transformation of Absa into a digital and data first business.
The bank thanked Cowyk Fox for his immense contribution noting that after many years of dedicated service as an integral leader in our business, he had decided to explore new horizons outside the organisation.
“We congratulate our colleagues on their appointments and welcome the new Exco members. It is pleasing to note that the appointments announced today are internal colleagues who have proven track records of delivering results in their respective fields and will contribute further to driving growth and empowering Africa’s tomorrow,” said Absa Group CEO, Arrie Rautenbach.
