The African Bank Group has announced the appointment of Kennedy Bungane as chief executive officer, and as an executive director of the bank and holding company African Bank Holdings Limited.
His appointment, effective 14 April 2021, follows approval from the Prudential Authority, it said.
"Kennedy brings over 20 years of banking experience with him having started his career at Standard Bank in 1991 and earning his banking and leadership stripes through holding a number of positions in the various departments within the bank, including head of Global Markets Sales, head of Institutional and Corporate Banking and chief executive of Corporate and Investment Banking for South Africa," the group said.
"He served as a member of both the Standard Bank of SA Executive Committee and the Standard Bank Group executive committee."
Bungane has previously served as chief executive of Barclays Africa Limited and Head of Absa Group strategy where he led the sale of Barclays Africa to the Absa Group.
Bungane said he was honoured to have been selected.
"African Bank offers an opportunity to join a dynamic and enthusiastic team of colleagues in building the bank into a fully-fledged platform of personalised financial services and solutions to our customers, "he said.
"I believe I can play a meaningful role in the ongoing growth and transformation of the bank and continue to position it as a significant competitor within the South African financial services landscape."
He holds a B.Com from the University of Natal, an MBA from the University of Pretoria (GIBS campus) and completed the Advanced Management Programme from Harvard.