S.Africa's FirstRand appoints Johan Burger as chief executive

by Reuters 46 views0

NII growth adds to FirstRand’s FY results First National Bank (FNB) is a division of FirstRand Bank. PHOTO: Arc Architects

South Africa’s FirstRand said Johan Kruger will take over as its chief executive from 30 September.

He will be taking over from Sizwe Nxasana who is retiring after nine years at the helm of Africa’s second-biggest banking group.

Burger worked as chief financial officer at [DATA FSR:FirstRand], which is also South Africa’s biggest lender by market value, since 2002. He was appointed deputy chief executive in 2013.

The lender named Alan Pullinger as deputy chief executive.

Nxasana’s time as CEO was characterised by a 23 per cent compound annual growth rate in earnings from 8.3 billion rand to 18.7 billion rand (at 30 June 2014).