Standard Bank Group today announced senior leadership changes to its Corporate & Investment Banking (CIB) division. Following the appointment of David Munro as Chief Executive Officer (CEO) of Liberty, Kenny Fihla, the current Deputy Chief Executive and Head of Client Coverage CIB, has been appointed as Chief Executive CIB, with immediate effect.
Fihla has been a key player in driving CIB’s growth and in managing key corporate clients across the continent and major financial centres around the globe. He has demonstrated his ability to consistently drive performance in his various leadership roles with CIB and his experience equips him well as he takes on his new position. Fihla was previously the Chief Executive of Business Against Crime from 2003 to 2006 and prior to that held various leadership positions within the public sector.
Sim Tshabalala, Chief Executive of the Standard Bank Group said these appointments demonstrate Standard Bank’s deep pool of expertise and its ability to integrate and optimise the deployment of our key talent.
The company also announced that Thabo Dloti, the current CEO of Liberty, is leaving Liberty following a difference of opinion with the Board on the immediate focus of the company at a time when the organisation is facing tough operational and environmental challenges. Dloti believes that given this environment, alignment among key stakeholders is imperative to ensure the effective execution of the strategy required to drive the company forward. This alignment, coupled with the ability to act decisively, is in the best interests of the company and hence Mr Dloti is stepping aside.
“Given Liberty’s importance as an institution to the Standard Bank Group, our ongoing priority is to enable the company to achieve its growth by focusing on a short-term recovery plan and a longer-term strategy to reinforce its competitiveness. Liberty remains a fundamentally sound business and Standard Bank is confident of Liberty’s long-term profitability, competitiveness and sustainability,” said Tshabalala.
The CEO expressed his appreciation for the role David has played at CIB and wished David, Kenny and their respective teams’ success going forward.