Kenny Fihla Is New Absa Ceo

Fihla, who has an MSc in financial economics from the University of London and an MBA from Wits University, joined Standard Bank in 2006 and has held various senior-level roles in the organisation, including as CEO of CIB, deputy CEO of Standard Bank Group a role that saw him looking after its operations outside South Africa and CEO of Standard Bank South Africa.

Interim Absa CEO Charles Russon will stay on until 16 June, when Fihla will take the reins.

"Charles will partner closely with Kenny to ensure a smooth leadership transition, whereafter he will take a key senior role within the group executive committee," Absa said. Fihla will go on "gardening leave" from Standard Bank with immediate effect.