Banking group Absa has selected a company insider to be the next chief executive of the South African lender.
Arrie Rautenbach, is currently Absa’s Chief Executive: Retail and Business Banking (RBB), the banking group said.
Rautenbach will assume his new role immediately.
He replaces Jason Quinn, currently Interim Group CEO, who will resume his role as Financial Director of Absa Group and Absa Bank, effective immediately, and remain an
Executive Director on the Boards.
Jason held this position from August 2016 to April 2021 after replacing Daniel Mminele.
Rautenbach joined Absa in 1997 and has held several senior roles over the years, including Chief Risk Officer, Chief Executive: Retail Banking South Africa, Managing Executive: Absa Card and Managing Executive: Branch Network, Absa Bank.
He has a Bachelors and a Masters in Business Administration (both from the University
of North-West: Potchefstroom) and completed an Advanced Management Program at INSEAD.
Absa also announced that Punki Modise, currently Interim Financial Director of Absa Group and Absa Bank, will relinquish these roles and step down as an Executive Director
of the Boards, with immediate effect.
She will take the position of Interim Chief Executive: RBB and remains on the Group Executive Committee.
“The Boards welcome Arrie to his new role and thank Jason and Punki for their significant
contributions as Interim Group CEO and Interim Financial Director, respectively, during which time the Group’s positive operational momentum was maintained.”
