Finance · South Africa
Standard Bank Loses Key Executives to Rival Absa
Moneyweb · 2026/01/20
Summary
Standard Bank, one of Africa's biggest lenders, is losing several important dealmakers to its rival, Absa. This trend started earlier this year when Kenny Fihla, who worked at Standard Bank for 18 years, moved to Absa as the new CEO. Since then, other top executives from Standard Bank have decided to join Absa too. These senior staff members play a key role in making and managing big financial deals. Their move could affect Standard Bank’s strength and market position in Africa, as experience and leadership are important in the banking sector. Meanwhile, Absa is gaining skilled leaders who could help the bank grow and compete better. This shift in executive talent shows that competition is heating up among South African and African banks, which could lead to changes in services and products for customers.
OnABudget takeaway: For everyday South Africans, this means banks are competing harder for business, which could lead to better banking deals and services. Small business owners and investors should watch these changes as stronger banks might offer improved financial support and opportunities.