Capitec Bank’s founding member and Group CEO, Gerrie Fourie, has announced that he will retire at the company’s Annual General Meeting (AGM) on 18 July 2025, marking the end of a transformative leadership era.
Fourie, who has been part of Capitec’s executive management team for over 25 years, is credited with leading the bank’s remarkable growth from a challenger bank with just 5 million clients to South Africa’s leading digital bank, serving over 24 million clients today.
Under his stewardship, Capitec expanded its reach and diversified its services, solidifying its position as one of the country’s foremost financial institutions.
“Gerrie has built a strong and diverse leadership team poised to carry the bank into the future. To this end, the executive structure was expanded to establish divisional executive teams
responsible for the retail bank, business bank, insurance company and strategic initiatives leaving a strong senior leadership team enriched with expertise, experience and deep institutional knowledge, the bank said in a statement.
In preparation for the leadership transition, Fourie has worked diligently to build a strong, diverse executive team that is ready to carry the bank forward, it said.
The company has also expanded its executive structure, establishing divisional teams responsible for the retail bank, business bank, insurance, and strategic initiatives, ensuring that Capitec’s future is in capable hands.
Capitec said that Graham Lee will succeed him as CEO, effective 19 July 2025. Lee, 50, has been with Capitec since 2003 and has held various strategic positions within the company, including leadership roles in credit, technology, data, and retail operations. Since 2022, he has served as the Group Executive of Capitec’s Retail Bank division.
With over 25 years of experience across Zimbabwe, the United Kingdom, Australia, Nigeria, and South Africa, Lee has a broad understanding of global markets and business practices. He has held positions at notable companies such as Morgan Stanley International and has worked in financial software development, data analytics, and micro-finance banking.
Summary of Graham Lee’s Career:
Qualifications: Graham holds a BBusSci (Hons) and an MBA, and he is a Chartered Management Accountant.
Experience: Over 25 years of experience in financial and technology businesses in Zimbabwe, the UK, Australia, Nigeria, and South Africa.
Career Highlights: Started his career in investment banking in Zimbabwe, later worked at Morgan Stanley International in London, and has held leadership positions in financial software development, data analytics, and micro-finance banking.
Academic Involvement: Graham also lectured part-time for the MBA programme at the University of Stellenbosch Business School.
As the leadership baton is passed, Capitec looks set to continue its path of innovation and customer service under Lee’s guidance, with a strong leadership team backing his vision.
“Gerrie and Graham will continue to work closely together over the next four months to ensure a smooth transition,” Capitec said.
