Kenny Fihla, the Deputy Chief Executive of the Standard Bank Group and Chief Executive of Standard Bank of South Africa (SBSA), tendered his resignation last night after 18 years of service.
Fihla will begin his garden leave on Monday, marking the end of an era for the banking giant.
Fihla, who joined Standard Bank in 2006, began his illustrious career as an executive in the Financial Asset Services division within Corporate & Investment Banking (CIB). Over the years, he has held numerous pivotal roles, climbing the ranks to become the Chief Executive of CIB, a position he has held since June 2017.
During his tenure, Fihla made a significant impact, driving the division’s growth and solidifying its position in both the local and global markets.
His leadership has been characterised by impressive financial results. Under his stewardship, CIB doubled its headline earnings to an impressive R20.5bn, achieving a compound annual growth rate of 8.6%.
Fihla's unique blend of experience, insight, and foresight in business, government, and the labour movement has not only benefitted Standard Bank but has also established him as a respected figure in the South African banking landscape.
"Though this is a heavy blow for us, the Group is blessed with a surfeit of talent and deep succession pools," a spokesperson for Standard Bank stated in light of Fihla's departure. “We wish Kenny continued success on his onward journey.”
While the bank is poised to navigate this transition, further announcements regarding the leadership of its regional operations are expected in the coming weeks, signalling a commitment to maintaining the Group's trajectory of success.
Kenny Fihla's departure will undoubtedly be felt across the organisation and beyond, but as the Group prepares for this change, it reflects on the enormous contributions Fihla has made throughout his tenure, setting a high standard for banking excellence.
IOL