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Thursday, 23 November 2023 19:47

Quinn's track record would help build Nedbank's legacy in South Africa.

By Lehlohonolo Lehana.

Photo Credit: Freddy Mavunda.

Nedbank banking group has announced Jason Quinn as chief executive-designate to replace retiring CEO Mike Brown next year.

Quinn resigned from his position at Absa with immediate effect on Wednesday afternoon.

Nedbank said his appointment is subject to regulatory approval. This includes getting the green light from the South African Reserve Bank (Sarb).

Nedbank chairperson Daniel Mminele said the board is delighted to have secured the services of an experienced leader of Quinn's calibre.

"The board is delighted to have secured the services of an experienced leader of the calibre of Jason with a proven track record in banking in South Africa and other parts of the African continent to build upon Mike's legacy," Mminele said.

"He has a proven track record in banking in South Africa and other parts of Africa to build upon Mike Brown's legacy," Mminele said.

He also praised Brown for his contribution, saying he championed Nedbank’s purpose of using its financial expertise to do good.

Brown will remain at Nedbank for a suitable period after he steps off the board to ensure a seamless handover to Quinn.

Quinn said he was excited about the new role. "I have been encouraged by my interactions with the board and the leadership culture and purpose statement resonate strongly with me.

He has been Absa's financial director since 2016, and was also its interim CEO for almost a year following the shock resignation of Mminele in April 2021. Mminele has since been appointed as Nedbank's chair. 

Arrie Rautenbach took over as Absa CEO in March 2022.

Quinn, a chartered accountant, held various finance roles at Absa and served as interim group chief executive officer of Absa from April 2021 to March 2022. 

Before Absa, he worked at Ernst & Young in 1992, holding a partner role from 2005 to 2008.