Nedbank has appointed Nomonde Hlongwa as its new Group Chief Compliance Officer (CCO), replacing Daleen du Toit, who will retire on 16 May 2025 after a decade at the bank.
Who is Nomonde Hlongwa?
Hlongwa, an admitted attorney with 18 years of experience, is currently the CCO for Business and Commercial Banking at Standard Bank. She brings extensive expertise in legal, risk, and compliance management and has worked across multiple African markets over the past decade.
Leadership Changes at Nedbank Wealth
Nedbank also announced that Iolanda Ruggiero, Managing Executive of Nedbank Wealth, will take early retirement on 31 March 2025, after 23 years of service. Ruggiero has led Nedbank Private Wealth, Wealth Management, Asset Management, and Insurance since 2015.
Jason Quinn, Nedbank CEO, thanked both Du Toit and Ruggiero for their contributions and welcomed Hlongwa, saying the bank looks forward to working with her in this key leadership role.
Accolades
Meanwhile, last November Nedbank’s multibillion-rand investment into its Managed Evolution (ME) digital transformation strategy has earned it global recognition at the Euromoney 2024 Awards for Excellence. The bank has been named as Africa’s Best Digital Bank and South Africa’s Best Digital Bank for its outstanding leadership in digital innovation.
At the same awards ceremony, Nedbank’s financial inclusion strategy earned the banking brand international recognition for its intensified efforts to bridge the financial exclusion gap. The bank has been conferred 2 additional awards: The World’s Best Bank for Diversity and Inclusion and South Africa’s Best Bank for Diversity and Inclusion.
The Euromoney Awards for Excellence has been the definitive annual awards programme of the global banking industry for the past 30 years, pioneering a comprehensive awards programme that remains the industry benchmark globally. The awards represent the highest distinction to the banks and bankers who matter most in an industry where differentiation is highly sought after and exceptionally difficult to demonstrate.
Best Digital Bank
“In 2016, Nedbank embarked on a R9 billion ME technology strategy aimed at unlocking efficiencies by embracing digital through a complete refresh of our digital platforms,” says Ciko Thomas, Group Managing Executive of Retail and Business Banking at Nedbank.
“The strategy also aims to place our clients at the centre of the journey by providing them with a more integrated client experience over time. Over the years, the ME journey has enabled us to refactor our core banking, with a particular focus on deposits and transactional products, the completion of the payment modernisation programme, and enhancing our onboarding and servicing of clients. The project has resulted in continued double-digit growth in all digital-related metrics, as well as higher levels of cross-selling.”
