JSE-listed niche business bank and asset manager Sasfin has announced that Angela Pillay has resigned as the company’s financial director.

The financial services group said Pillay had tendered her resignation to pursue other endeavours.

Pillay will serve a three-month notice period until 8 April 2022 and the board will commence with a process to find an appropriate successor immediately.

Shareholders will be kept informed in this regard, said Sasfin

Pillay has been the financial director of Sasfin since 2018.

“The Board would like to thank Angela for her dedication, hard work and commitment over the past few years and wish her well in the future.”

Also read: Former TymeBank CEO, Sandile Shabalala Joins Sasfin

SASFINhas announced that Sandile Shabalala will join them as Chief Executive of Business and Commercial Banking. Having successfully led the establishment and formal launch of the new TymeBank in February 2019, and, as former Managing Executive of Business Banking at Nedbank for 11 years, Sandile is a powerful addition to the purpose-driven bank. He will commence the position on January 2nd,

Michael Sassoon, Group CEO of Sasfin, explains, “Based upon what we have planned, I couldn’t have asked for a better combination of experience than the track record Sandile has, having led a business banking unit within a large traditional bank and having been CEO of a digital challenger bank. His vision is very much aligned with where we are headed. Having met many potential candidates, Sandile was clearly the right fit, given his passion, vision and experience. South Africa needs leaders like Sandile to help get businesses going again. Sandile is a proven entrepreneurial banking leader that can deliver on our purpose and champion the needs of business. We have big ambitions for this brand and getting the right person to lead it was essential.”

Shabalala explains, “Sasfin has a huge opportunity to be a focused bank in the business banking space. There is scope to support SMEs who lack resources, by offering more than traditional business banking; by guiding them and delivering value-added expertise and resources. My move to Sasfin is about delivering value beyond banking to the business segment which I believe would be hugely appreciated. This will help grow businesses and the economy. As we got to know each other during various phases of the interview process, I saw a lot of drive and ambition, a robust strategy and good values. Sasfin’s current trajectory and positioning are focused on enabling business growth, walking side by side with their clients which will ultimately enable job creation.”

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