Sim Tshabalala steps in as Interim CEO of Standard Bank SA

Standard Bank Group has announced a major leadership reshuffle, with Group CEO Sim Tshabalala stepping in as the Interim CEO of Standard Bank South Africa.

The appointment is subject to regulatory approval, and Tshabalala will hold dual roles as head of both the Group and Standard Bank South Africa, in addition to serving as an executive director on the boards of both entities.

Tshabalala’s appointment follows the resignation of Kenny Fihla, who previously served as CEO of Standard Bank South Africa and as Deputy CEO of the Group.

Fihla, currently serving his notice period, is expected to assume his new position as Group CEO of Absa in the coming months. He formerly led Standard Bank’s Corporate and Investment Banking division before rising to his most recent executive roles.

ALSO READ: NCBA, AGF RENEW $23M SME FINANCING DEAL

As the leadership transition unfolds, the bank has also confirmed that Lungisa Fuzile, currently the Regional Chief Executive for South and Central Africa, will take on the role of Interim Chief Executive of Africa Regions and Offshore, also effective April 8, 2025 and pending regulatory approval.

Fuzile will report directly to Tshabalala and join the Group Leadership Council. He previously served as CEO of Standard Bank South Africa before departing during a leadership reshuffle in 2024.

“Lungisa and I will work together closely as we continue to develop and execute the Group’s strategy in relation to its footprint outside of South Africa,” said Tshabalala in a statement. “We congratulate Lungisa as he takes on these expanded responsibilities and wish him success in his new role.”