AFRICAN Bank’s "good bank" on Monday moved to strengthen its board by appointing experienced financial services professionals, among others, as nonexecutive directors.
The strengthening of governance at the "good bank", that is being salvaged from the ruins of the failed African Bank, moves it closer to establishing a new, fully fledged financial services concern offering banking and insurance products.
The African Bank curator, Tom Winterboer, said the new directors were Basani Maluleke, a former dealmaker at Rand Merchant Bank and former head of FNB Private Clients; Ignatius Sehoole, a qualified chartered accountant and a respected former director at the Public Investment Corporation; Frans Truter, the former chief financial officer of Momentum; Louisa Stephens, a qualified chartered accountant who also served as a transactor and credit analyst at Rand Merchant Bank; and Sybille McCloghrie, a professional experienced in technology who has also worked in business development at FirstRand.
Two more nonexecutive directors are expected to be appointed. The appointments followed banking veteran and former Absa deputy CEO Louis von Zeuner being named chairman and former Wesbank boss Brian Riley the CEO of the good bank.
Gustav Raubenheimer, a former chief risk officer at Absa Retail and Business Bank, was appointed the bank’s chief financial officer.
African Bank curator Tom Winterboer. Picture: MARTIN RHODES
AFRICAN Bank’s "good bank" on Monday moved to strengthen its board by appointing experienced financial services professionals, among others, as nonexecutive directors.
The strengthening of governance at the "good bank", that is being salvaged from the ruins of the failed African Bank, moves it closer to establishing a new, fully fledged financial services concern offering banking and insurance products.
The African Bank curator, Tom Winterboer, said the new directors were Basani Maluleke, a former dealmaker at Rand Merchant Bank and former head of FNB Private Clients; Ignatius Sehoole, a qualified chartered accountant and a respected former director at the Public Investment Corporation; Frans Truter, the former chief financial officer of Momentum; Louisa Stephens, a qualified chartered accountant who also served as a transactor and credit analyst at Rand Merchant Bank; and Sybille McCloghrie, a professional experienced in technology who has also worked in business development at FirstRand.
Two more nonexecutive directors are expected to be appointed. The appointments followed banking veteran and former Absa deputy CEO Louis von Zeuner being named chairman and former Wesbank boss Brian Riley the CEO of the good bank.
Gustav Raubenheimer, a former chief risk officer at Absa Retail and Business Bank, was appointed the bank’s chief financial officer.
