JOHANNESBURG – South Africa’s biggest retail bank, Absa, has appointed Gill Marcus, former deputy finance minister and former deputy central bank governor, as an independent chairwoman, the company said yesterday.
Absa, which is majority-owned by Britain’s Barclays, said the appointment was effective from July 1, subject to regulatory approval. Marcus succeeds Danie Cronje, who is retiring.Marcus is executive chairwoman of mining firm Western Areas, which is being bought by larger rival Gold Fields.Absa announced Cronje’s retirement last year and said it was looking for an independent successor.Absa shares gained 1,22 per cent to 132,19 rand by 0814 GMT, in line with the Johannesburg banking index.Nampa-ReutersMarcus succeeds Danie Cronje, who is retiring.Marcus is executive chairwoman of mining firm Western Areas, which is being bought by larger rival Gold Fields.Absa announced Cronje’s retirement last year and said it was looking for an independent successor.Absa shares gained 1,22 per cent to 132,19 rand by 0814 GMT, in line with the Johannesburg banking index.Nampa-Reuters
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