Standard Bank Group Announces Senior Executive Management Changes

Standard Bank Group has announced significant changes to its senior executive management structure, effective upon receipt of regulatory approval. David Hodnett, the Group's current Chief Risk Officer, is set to take on the role of Chief Executive Officer (CEO) at The Standard Bank of South Africa Limited (SBSA), while Thabani Ndwandwe, the current Chief Risk Officer of SBSA and the Personal and Private Banking division, will succeed Hodnett as the Group's Chief Risk Officer.

Key Takeaways:

• David Hodnett, with over 30 years of leadership experience, will assume the role of CEO at SBSA, subject to regulatory approval.
• Thabani Ndwandwe will succeed Hodnett as the Group Chief Risk Officer, subject to regulatory approval.
• The appointments are in line with the Group's Nomination and Appointment Policy.
• The effective date of the appointments will be determined upon receipt of regulatory approval.
• A follow-up SENS announcement will be made regarding the effective date of the appointments.
• The Board expresses its confidence in both David and Thabani in their new roles.

Statistics:

• Over 30 years of leadership experience held by David Hodnett.
• 2 role changes announced, with David Hodnett transitioning to CEO at SBSA and Thabani Ndwandwe becoming Group Chief Risk Officer.
• 2 separate regulatory approvals required for the appointments.

Sources:

• Standard Bank Group Limited, Registration number 1969/017128/06, incorporated in the Republic of South Africa.
• "The Standard Bank of South Africa Limited, Registration number 1962/000738/06, incorporated in the Republic of South Africa.
• Johannesburg Stock Exchange Listings Requirements.
• Debt & Specialist Securities Listings Requirements.