Sim Tshabalala and Ben Kruger, who both served as deputy Chief Executives of the Standard Bank Group since 2009, have been appointed joint Chief Executives of Standard Bank Group with immediate effect.
In their new roles, they will be held jointly accountable and responsible for the management and performance of Standard Bank Group. They will split their main duties.
Sim will remain Chief Executive of Standard Bank South Africa and will take charge of the group’s banking business outside South Africa on the African continent. He will also be responsible for the group’s Wealth businesses, including responsibility for Liberty Holdings. Simon Ridley, the Group Financial Director, will report to him.
Ben will remain in charge of Personal & Business Banking (PBB) and Corporate & Investment Banking (CIB). He will remain chairman of Standard Bank Plc. Ben also takes accountability for the Group Risk function. Peter Wharton-Hood, the Chief Operating Officer responsible primarily for IT and Operations, will report to him.
Sim joined Standard Bank Group in 2000 and has held various positions including managing Standard Bank’s African operations, and deputy Chief Executive of Personal and Business Banking for Standard Bank South Africa. Prior to his appointment as CEO of Standard Bank South Africa in 2008, he also served as Chief Executive of Personal and Business Banking for Standard Bank South Africa.
Ben joined the then Standard Merchant Bank (SMB) in 1985. He held various positions in SMB, including overseeing activities in the Corporate Banking and Finance divisions. He was appointed Deputy Chief Executive of Standard Corporate and Merchant Bank (SCMB) in 1998 and Chief Executive of SCMB in 2001. From 2006 to 2008 he held the position of Chief Executive of global Corporate and Investment Banking and was appointed as Chief Operating Office for the Standard Bank Group in 2008.