Barclays Africa gave the market another glimpse of the direction in which it is heading, with the announcement on Friday of a new structure and new section heads in its South African retail and business banking division. This comes after the departure of several high-profile executives. Arrie Rautenbach and Bongiwe Gangeni, CEO and deputy CEO of retail and business banking respectively, who were appointed in April, have driven the restructuring of the unit, which started at the beginning of the year. The aim is to dismantle the centralised structure of Barclays Africa, which will revert back to Absa Group on July 11. "This structure is in line with our firm intention to give our businesses control and accountability for the implementation of our strategy. It brings them closer to the customer, enabling each to develop solutions that speedily respond to their needs," said Rautenbach. Each segment in the division will have its own risk, operations, human resources, finance, technology...
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