Today's Labour News

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AbsaFin24 reports that Absa has named Deon Raju as its new group financial director, in place of the outgoing Jason Quinn, as part of a shake-up to its executive committee.

Quinn takes over as Nedbank CEO on 31 May when Mike Brown retires after 30 years of service. Absa announced the appointment on Friday, saying Raju had further been appointed as an executive director of Absa Group and Absa Bank with immediate effect. He also becomes a member of the board group risk and capital management committee, group credit risk committee and its information technology committee.   Raju holds a BCom Honours degree from the University of KwaZulu-Natal and is a chartered accountant, as well as a chartered financial analyst (CFA). He first joined Absa in 1999 and has held numerous roles. The appointment of Raju was made along with a series of other changes to Absa’s executive committee, which the bank said was part of a strategic plan to boost its market competitiveness and advance its transformation, diversity and inclusion agenda. Christine Wu replaces Cowyk Fox as chief executive for everyday banking. Rajal Vaidya, currently chief risk officer at Absa's corporate and investment banking (CIB) unit, has been named as interim group chief risk officer. "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," Absa group CEO Arrie Rautenbach said in a statement.

  • Read the full original of the report in the above regard by Garth Theunissen at Fin24
  • See too, Absa gets new finance chief, at BusinessLive

Get other news reports at the SA Labour News home page