Absa's Maria Ramos throws the dice again with new team
Latest restructuring to help Absa claw back its dominant position
In the past decade Barclays Africa's executive management team has been hit by at least four restructuring exercises, with the most recent placing a question mark over the future of a long-serving executive. Although some of these changes were led by operational requirements and strategy inconsistency, internal politicking was also to blame, said Rahima Cassim, fund manager at Ashburton Investments. This week the group, which will change its name to Absa Group Limited before June, announced a new structure and two changes to its executive committee. It is to be split into four core businesses. Arrie Rautenbach will take over retail and business banking (RBB); Nomkhita Nqweni will remain CE of wealth, investment management and insurance; and co-deputy CEO Peter Matlare will continue to be responsible for the rest of Africa business. The group has not announced a new head of corporate and investment banking (CIB), saying only that the division will be headed by "a chief executive". Te...
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