Kenny Fihla appointed CEO of Absa Group

Kenny Fihla has been appointed the Chief Executive Officer of Absa Group. Fihla has resigned as CEO of Standard Bank South Africa and Deputy Group CEO of Standard Bank after 18 years with the banking giant.

Fihla will assume the role of CEO and executive director of Absa Group and Absa Bank effective 17 June 2025, pending regulatory approval, according to statements from both banks.

Effective 17 March 2025, Fihla has begun gardening leave, during which he is required to remain away from the workplace during his notice period, Standard Bank confirmed.

“Whilst this is a heavy blow for us, the group is blessed with a surfeit of talent and deep succession pools,” the bank said, promising further announcements on leadership changes in the coming weeks.

A Legacy of Growth at Standard Bank
Fihla joined Standard Bank as an executive in the Financial Asset Services division within Corporate & Investment Banking (CIB). Over nearly two decades, he held several senior positions, including head of transactional products and services, head of client coverage, and deputy chief executive.

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In 2017, he was appointed CEO of CIB, where he led significant growth.

“Under his guardianship as chief executive from 2017 to 2024, CIB doubled its headline earnings to R20.5 billion and achieved a compound annual growth rate of 8.6%,” Standard Bank said.

The bank acknowledged Fihla’s invaluable contributions, citing his extensive expertise across business, government, and the labour movement.

Absa Welcomes an Experienced Leader
In a statement, Absa praised Fihla’s Pan-African banking expertise and proven leadership record, highlighting his nearly 20 years of experience in senior banking roles.

“Kenny is a recognised leader with substantial Pan-African banking experience and a proven track record,” the bank said.

Absa also noted that Fihla holds an MSc in Financial Economics from the University of London and an MBA from the University of the Witwatersrand.

Leadership Transition at Absa
Until Fihla’s arrival in June 2025, Charles Russon will continue as interim CEO of Absa Group and Absa Bank.

“Charles will partner closely with Kenny to ensure a smooth leadership transition, whereafter he will take a senior role within the group executive committee,” Absa said.